By Felipe Peroni – Tuesday 05 October
Brazilian iron ore export volumes decreased by 10.12% year on year in September, according to figures from the country’s economy ministry. Exports totaled 33.68 million tonnes last month, compared with 37.47 million tonnes a year earlier, according to the figures released late last week.
Exports from the southeastern Minas Gerais state reached 11.23 million tonnes, down from 14.11 million tonnes in September 2020.
Meanwhile, exports from Para state, located in the Carajas producing region, reached 17.81 million tonnes, down from 19.80 million tonnes.
China was the largest consumer of Brazilian iron ore, with 25.57 million tonnes in September, down from 31.85 million tonnes a year before.
Shipments to the European Union totaled 1.86 million tonnes, up from 1.07 million tonnes in the same comparison.
Average export prices, however, increased by 45.60% in the same comparison, to $120.70 per tonne fob, from $82.90 per tonne fob.
Iron ore prices decreased sharply in September after reaching record highs, but were still higher compared to the same period a year ago.
Fastmarkets’ daily index of iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $142.83 per tonne in September, down from $184.50 per tonne in August, but still higher than $136.50 per tonne in September 2020.
The index was calculated at $138.50 per tonne on October 5.
Brazilian iron ore export revenues totaled $4.07 billion in September, up by 30.85% from $3.11 billion a year before.
(MetalBulletin, 06 Oct, 2021)
