Brazilian iron ore exports increase at lower prices

Tuesday, 19 January 2016 21:45:16 (GMT+3)   |   Sao Paulo
       

In December, Brazil exported 33.22 million mt of iron ore, pellets excluded, 26.5 percent more than in November, according to the country’s ministry of development, industry and foreign trade, MDIC.

Shipments to Asia increased by 29.4 percent to 28.92 million mt, of which 20.33 million mt went to China, a 22.1 percent increase, while shipments to Europe increased by 2.2 percent to 3.48 million mt, shipments to the Middle East increased fourfold to 675,200 mt and shipments to Latin America declined by 9.6 percent to 301,000 mt.

The average FOB price, 13.8 percent lower at $26.70/mt, reflects Vale, the main exporter, declaring an interim price for when the ore arrives at the destination, closing the price deal with the quotation of the ore in the Chinese market.

Currently in the Brazilian domestic market, sinter feed fines are reportedly sold by Vale at $34.60/mt, pellets at $74.15/mt and lumps at $38.56/mt, CFR conditions, slightly reduced from the prices on early December 2015, $35/mt, $75/mt and $39/mt, respectively, a slab producer told SteelOrbis.

During 2015, Brazil exported 315.02 million mt of iron ore at $32.95/mt, against 294.46 million mt at $67.86/mt in 2014.

In 2015, most of the shipments went to Asia, 250.88 million mt, of which 175.74 million mt to China.

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