Exports of iron ore (pellets excluded) from Brazil reached 27.18 million mt in October, down 4.2 percent from September, at an average price 14 percent lower, at $52.40/mt, according to the country’s ministry of development, industry and foreign trade, MDIC.
The downturn reflects chiefly exports to Asia reduced by 15 percent to 19.14 million mt, of which 14.15 million mt shipped to China (less 10 percent), while shipments to Europe went up by 43 percent to 5.35 million mt and shipments to the Middle East went up by 26 percent to 1.89 million mt.
Smaller tonnages were shipped to South America (613,600 mt), and the US (99,000 mt).
Meanwhile, Brazilian exports of pellets during October went down by 2 percent to 4.59 million mt at an average FOB price of $101.30/mt, 3 percent lower.
Top destinations were Asia (up 25 percent to 2.09 million mt), the EU (up 20 percent to 957,700 mt), Africa (up 53 percent to 475,000 mt), the Middle East (up 41 percent to 402,200 mt) and South America (up 10 percent to 400,200 mt).
In the domestic market, sinter feed fines were sold to large slab producers at $50/mt, pellets at $69/mt and lumps at $45/mt, CFR taxes excluded, reductions in one month of 35 percent, 25 percent and 34 percent, respectively, an industry source told SteelOrbis.