Brazilian combined exports of iron ore and pellets have reached 37.86 million mt in September, the highest monthly volume since May 2018, according to preliminary figures by the country’s customs authorities.
The volume confirms the increasing recovery of exports from Brazil, chiefly from the mines located in the north of Brazil, where the Covid-19 pandemic had a severe impact on the operations of the miner Vale, now gradually returning to normal.
Currently estimated at 1.6 billion mt per year, the iron ore transoceanic market is viewed by analysts as having the demand currently outpacing availability, resulting in a high level of prices, reflecting also some degree of volatility due to the activity of the financial markets.