Anglo American Brazil sees realized iron ore prices increase in H1

Wednesday, 21 July 2021 20:13:07 (GMT+3)   |   Sao Paulo

Anglo American saw realized iron ore prices at its Brazilian Minas-Rio project in H1 increase, the company said this week. Iron ore prices at Minas-Rio in H1 this year reached $200/wmt (wet metric ton) FOB, 127 percent up, year-over-year, from $88/wmt FOB in H1 2020.

Anglo American said it uses the wet basis as the product is shipped with ~9% moisture. The company also clarified the realized iron ore prices are based on Port Açu shipments.

The increased realized iron ore price reflects the company’s “premium quality of the product, including higher (~67 percent) Fe content, and timing on provisionally priced volumes,” the company said.

Anglo American’s Brazilian subsidiary, Anglo American Brazil, exported 5.56 million mt of iron ore in Q2 this year at its Minas-Rio site, 16 percent down, year-over-year. Anglo American Brazil’s iron ore exports in H1 this year totaled 11 million mt, 13 percent down, year-over-year.

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