Vale lowers pellet price to boost exports

Friday, 08 August 2014 01:16:23 (GMT+3)   |   Sao Paulo
       

Exports of pellets by the Brazilian miner Vale fetched 5.31 million tons in July, 65.6 percent more than in June, according to the local ministry of development, industry and foreign trade, MDIC.

But the increased volume was achieved at the expenses of prices, which in FOB terms went down by 4.1 percent to $117/mt.

Asia was the main destination of the pellets, up 107 percent to 2.21 million tons, of which 511,000 mt to China, a 221 percent increase.

Other destinations of the pellets were Europe (up 25 percent to 1.37 million tons), Africa (up 44 percent to 535,000 mt), South America (up 18 percent to 378,000 mt), the Caribbean (up 97 percent to 341,000 mt) and the Middle East (up 88 percent to 323,000 mt).

Meanwhile, the Brazilian exports of iron ore (excluding pellets) went down by 1.8 percent to 25.88 million metric tons, at an average price 17 percent lower, at $61/mt FOB.

Top destinations were Asia (less 1.4 percent to 19.88 million tons, of which 15.78 million tons to China, a 5.4 percent increase), Europe (up 16 percent to 3.99 million tons), the Middle East (up 17 percent to 1.11 million tons) and South America (down 29 percent to 899,000 mt).


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