Brazil's iron ore export to China see huge decline in Jan '15

SAO PAULO (Scrap Monster):  The iron ore exports from Brazil to China fell sharply during the month of January this year. China accounted for almost half of the total exports by Brazil during the month, maintaining its position as the top export destination for Brazilian iron ore.

According to statistics released by the Brazilian Ministry of Trade, the exports during the month declined by 30.7% over the previous year to 9.62 million mt. The exports of iron ore from Brazil to China had totaled 13.94 million mt in January 2014.

As per data, the huge decline in iron ore prices led to sharp fall in value of exports. The value of exports to China totaled $413.85 million, falling sharply by nearly 70% when compared with the same month a year ago. When compared with Dec ’14, the country’s iron ore shipments to China during Jan ’15 were down by 52.9%. Brazil had exported 20.51 million mt of iron ore to China during Dec ’14. The sales revenue during the month witnessed a drop of 56% from $940.54 million FOB in Dec ’14.

The second largest importer of Brazil’s iron ore was Japan. The imports by Japan totaled 2.2 million mt during Jan ’15. The Brazilian iron ore exports to Japan were down 9.3% from January 2014 level of 2.43 million mt. The export revenues totaled $98.46 million FOB, falling sharply by 59.1% from $240.86 million FOB during a year ago.

When compared with Dec ’14, the country’s iron ore shipments to Japan during Jan ’15 were down by 19.6%. Brazil had exported 2.74 million mt of iron ore to Japan during Dec ’14. The sales revenue during the month witnessed a drop of 27.8% from $136.47 million FOB in Dec ’14.