CBMM, the world’s largest producer of niobium ferroalloys, exported 5,333 mt of the product in October, 26.4 percent more than in September, according to the Brazilian ministry of development, industry and foreign trade, MDIC.
The increased volume was reached in exchange for a FOB price reduced by 20.4 percent to $21,925/mt, a strategy that eventually paid off in terms of total revenues, slightly increased to $116.9 million in October.
Conversely, exports of niobium ferroalloys by the Brazilian arm of Anglo American declined by 19 percent to 587 mt, at an average FOB price reduced by 7.3 percent to $23,512/mt.
The country’s total exports reached 5,941 mt at $22,085/mt FOB and were destined to Asia (up 63 percent to 2,933 mt), the EU (down 20.5 percent to 1,807 mt), the US (up 6.1 percent to 855 mt), Russia (stable at 120 mt), and Canada (increased from 17 mt to 117 mt), while smaller tonnages were shipped to South Africa, Turkey, Latin America and Australia.
A source from a major slab producer told SteelOrbis that the product in small ingots remains sold to consumers in the domestic market in a range of $20,400/mt to $21,300/mt, CFR full taxes conditions, stable in two months.