Both Peruvian iron ore export prices and volumes in September have reached the lowest levels seen so far in the year, according to data released by the nation’s central bank, BCRP.
BCRP said export prices for the commodity in September reached an average FOB price of $26.3/mt, the lowest level seen so far in the year. In April, export prices for the product reached a similar level, FOB $26.4/mt. Following the same downtrend, September export volumes of the commodity registered the year’s lowest rate, reaching 300,000 mt, as opposed to the 1.1 million mt of the product sold overseas in the previous month.
In the year-on-year analysis, export prices fell 44.6 percent, while volumes declined 71.9 percent, year-on-year, according to BCRP’s calculations.
As for the cumulative period of January to September, Peruvian’s average export prices for iron ore reached FOB $32.1/mt, almost half the price seen in the same period of the year prior, FOB $61.7/mt. Export volumes reached 8.5 million mt in the nine-month period of 2015, down from 8.6 million mt a year ago.