Brazilian iron ore export value down 25.9 percent in 2012

According to the latest report published by Brazil's National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase), in 2012 Brazilian iron ore output amounted to 375 million mt, increasing 0.5 percent compared to the 373 million mt recorded in 2011. Brazil's iron ore exports in 2012 fell by 1.3 percent from 2011 level, totaling 326.5 milion mt.
 
The gross revenue coming from Brazilian iron ore exports totaled $30.9 billion in 2012. This value was lower than in 2011 which saw a historical record of $41.8 billion. The 25.9 percent year-on-year decrease in revenue occurred due to the lower tonnage exported in 2012 but was mostly due to the fall in iron ore prices. According to Sinferbase, in 2012 the lowest monthly export price for iron ore was $94.2/mt recorded in June, while in 2011 the lowest monthly price was the $108/mt seen in December.
 
According to the released information, iron ore exports from Brazil to China, the main destination country, amounted to 170 million metric tons in 2012, increasing by 3.3 percent year on year. Japan was the second largest export destination for Brazilian iron ore exports in the given year, with 31.2 million metric tons - down 16.5 percent year on year.