Peruvian iron ore exports increased 9.6 percent in 2014, year-on-year, to 11.4 million mt, according to data released this week by the nation’s central bank, BCPR.
According to BCPR, the product’s export volumes decreased in December by 17.7 percent to 700,000 mt, it said.
Peruvian average iron ore prices in 2014 fell 31.1 percent to $56.90/mt, year-on-year. Compared to December 2013, the product’s price in the last month of 2014 decreased by half to $39.50/mt compared to $82.40/mt registered a year ago.
According to a source based in Peru, the local market expects prices to remain stable in the coming months.
“If export prices don’t increase, we expect them to be stable,” a Lima-based source said, adding that export prices have been falling less in the last few months.
Iron ore production at Peruvian’s only steelmaker Shougang Hierro Peru increased 7.6 percent in 2014, year-on-year, according to data from the nation’s mines and energy ministry.
According to government data, iron ore production at Shougang Hierro Peru reached 7.1 million mt in 2014, but was 21 percent lower when compared to November’s 481,532 mt production.
In December, Shougang produced 339,197 mt of iron ore.