World’s second largest exporter of iron ore – Brazil has recorded export volumes of 23.79 MnT in Feb’18. The exports witnessed a sharp decline of 22% M-o-M in Feb’18 as against 30.44 MnT in Jan’18.
On Y-o-Y basis, iron ore exports from Brazil recorded decline of 8% in Feb’18 as compared to Feb’17 which stood at 25.73 MnT in Feb’17.
Seaborne iron ore prices in China remained on the higher side throughout February, amid restocking activities by steel mills before Lunar New Year holidays.
The average price of the ore edged up to USD 52.9/MT, FoB in Feb’18 compared to USD 50.3/MT in Jan’18. However, average price for Feb’18 witnessed a decline of 7% on yearly basis as against USD 57.1/MT in Feb’17.
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