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Iron Ore April 27, 2018 03:30:18 PM

Brazil’s Iron Ore Exports Down 7.5% in Q1 2018

Paul Ploumis
ScrapMonster Author
Meantime, the agglomerated ore exports edged higher marginally by 0.7% over Q1 2017 to total 7.792 Mt in the first quarter of 2018.

Brazil’s Iron Ore Exports Down 7.5% in Q1 2018

SEATTLE (Scrap Monster): The latest trade statistics published by the Secretariat of Foreign Trade (SECEX) under the Ministry of Development, Industry and Commerce (MDIC) of Brazil indicates sharp drop in iron ore exports by the country during the initial three-month period in 2018. The quarterly ore exports by the country dropped by 7.5%, mainly on account of sharp decline in shipments of non-agglomerated ore.

Brazil’s iron ore exports totaled 84.178 million tonnes (Mt) during the first quarter of 2018. This is lower by 7.5% when compared with the exports of 91.042 Mt during the corresponding quarter in 2017. The value of exports dropped significantly by 17.5% from $5.416 billion in Jan-Mar ’17 to $4.466 billion during Q1 this year. The average export prices have declined heavily by 10.8% to $53.1 per tonne. The export prices had averaged at $59.5 per tonne during the first quarter of 2017.

The largest destination of Brazilian ore exports was China. The exports to China totaled 49.652 Mt, accounting for almost 59% of the total ore exports by Brazil during the quarter. The exports averaged at $50.1 per tonne and were valued at $2.489 billion. The second largest importer was the Netherlands, whose imports from Brazil totaled 4.324 Mt. The other major ore export destinations were Japan (3.585 Mt) and Malaysia (3.513 Mt).

ALSO READ: U.S. Exports of Iron Ore and Concentrates Surged 38%

The non-agglomerated ore exports recorded 8.3% year-on-year decline during the first quarter of 2018. The exports totaled 76.386 Mt when compared with 83.303 Mt in Q1 2017. The value of exports was down by over 21%. The average export prices too have dropped by more than 14%. The largest destinations of export were China (48.810 Mt), Malaysia (3.513 Mt) and the Netherlands (3.340 Mt).

Meantime, the agglomerated ore exports edged higher marginally by 0.7% over Q1 2017 to total 7.792 Mt in the first quarter of 2018. The value of exports and average price of exports surged higher by 10.6% and 9.9% respectively. The largest importer of agglomerated ore from Brazil was Egypt.

Meantime, the agglomerated ore exports edged higher marginally by 0.7% over Q1 2017 to total 7.792 Mt in the first quarter of 2018. The value of exports and average price of exports surged higher by 10.6% and 9.9% respectively. The largest importer of agglomerated ore from Brazil was Egypt.

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