Peruvian iron ore export prices in October rose 43.4 percent, year-over-year, from $60.4/mt FOB in October 2019 to $86.6/mt FOB in October this year, said the nation’s central bank, BCRP. On a monthly basis, iron ore export prices in October fell 12 percent from $98.4/mt FOB in September this year.
Despite the weaker month-over-month export price, Peruvian iron ore export volumes in October reached 1.6 million mt, up from 1.4 million mt in October 2019 and from 1.1 million mt in September this year.
Peruvian iron ore export volumes in October have almost reached pre-Covid levels, as the highest export volume levels reported so far in the year were achieved in Q1, with volumes ranging from 1.7 million mt in January and March to 2 million mt, as reported in February this year.