Brazilian exports of iron ore in March increased 25.81 percent year-on-year, to 30.7 million mt, according to data released by the nation’s ministry of development, industry and foreign trade, MDIC.
According to MDIC, exports of the product increased from 24.4 million mt in march 2014. Despite the higher volume of external sales, the value of Brazilian exports of the commodity reached $1.3 billion, 13.5 percent down from the $2.3 billion registered in the same period of 2014, reflecting the product’s lower price, which declined 53.8 percent to an average price of FOB $45.07/mt from $97.75/mt in March 2014.
For the cumulative period of January and March, Brazilian iron ore exports increased 10.5 percent from 71.8 million mt to 79.3 million mt, year-on-year.
External sales of the product in the three month period reached $3.8 billion, 14.2 percent down from $7 billion a year ago.