Despite having exported existing stocks of iron ore in April, Peru did not export any of the commodity in May, according to data released by the central bank, BCRP.
Peruvian iron ore export prices in April this year reached $64.9/mt FOB, the highest level so far in the year, as the country used existing inventory to sell the commodity overseas.
Peru had been on a nationwide lockdown since March 16. The lockdown ended in June and Shougang Hierro Peru, the key iron ore producer, halted operations during this period. As a result of Covid-19, Peru exported no iron ore in May.
And despite the highest exporting price in the year reached in April, Peruvian iron ore export volume in that month reached 500,000 mt, down from 1.7 million mt in March.