Brazil Iron Ore Exports Bounced Back Sharply in October

SEATTLE (Scrap Monster): The most recent import trade statistics published by the Secretariat of Foreign Trade (SECEX) under the Ministry of Development, Industry and Commerce (MDIC) of Brazil suggests sharp rebound in iron ore export volumes by the country during October 2017 over the previous year.

Brazil’s iron ore export volumes totaled 35.258 million tonnes during the month of October this year. The monthly export volumes surged by 17.5% when compared with the corresponding month a year before. Brazil’s iron ore exports had totaled 30.012 million tonnes in October last year. The country’s total ore exports were valued at $1.97 billion, considerably higher by 77.4% over the previous year. The average export price surged higher by more than 50% from $37.01 per tonne in October last year to $55.87 per tonne in October 2017.

The top three importers of Brazilian iron ore during the month were China, Malaysia and Japan. The combined imports by these three countries accounted for nearly 70% of the total monthly ore exports by Brazil during the month. The top importer, China received 19.781 million tonnes of iron ore from Brazil, accounting for almost 56% of the total Brazilian exports. The ore exports to China averaged at $55.87 per tonne. In second place was Malaysia with imports of 2.747 million tonnes. Japan imported 2.136 million tonnes of the steel making raw material. The other key importers during the month were Portugal (1.466 million tonnes), South Korea (873,000 tonnes) and France (872,000 tonnes).

The exports of non-agglomerated ore totaled 32.885 million tonnes in October this year. The exports increased modestly by nearly 18% when matched with the year ago month. The value of non-agglomerated ore exports totaled $1.746 billion. The export prices averaged at $53.08 per tonne, significantly higher by 54% when compared with $34.49 per tonne in October last year.

The top importer of non-agglomerated ore from Brazil during the month was China. The Chinese imports from Brazil totaled 19.635 million tonnes, followed by Malaysia and Japan with imports of 2.747 million tonnes and 2.016 million tonnes respectively. The Netherlands (1.477 million tonnes), Portugal (1.466 million tonnes), South Korea (790,000 tonnes) and France (712,000 tonnes) were the other key export destinations.

Agglomerated ore exports by Brazil totaled 2.373 million tonnes, higher by 13.5% upon comparison with the previous year. The net value of exports amounted to $224.18 million. The agglomerated ore exports averaged at $94.47 per tonne in October.

The USA was the primary importer of agglomerated ore from Brazil. Brazil’s exports to that country totaled 340,000 tonnes. Egypt (316,000 tonnes) and Netherlands (309,000 tonnes) were the other key export destinations.