World’s second largest exporter of iron ore – Brazil has recorded export volumes of 25.88 MnT in Apr’18. The exports witnessed a sharp decline of 14% M-o-M in Apr’18 as against 29.95 MnT in Mar’18.
It is to be noted that Anglo American – Minas-Rio iron ore mines, halted operations for three months owing to pipeline leakage. The leakage was detected on 29th Mar’18, post which the mines were shut down for a period of 90 days. This could have resulted in decline in export volumes. Anglo American shipped around 2.91 MnT iron ore from its Brazil mines in Q1 CY18.
However, on yearly basis, iron ore exports from Brazil recorded 8% increase in Apr’18 as compared to Apr’17 exports at 24.05 MnT.
The monthly average price of iron ore increased up to USD 57.4/MT, FoB in Apr’18 compared to USD 56/MT in Mar’18. However, the average price for Apr’18 witnessed a sharp decline of 15% on yearly basis as against USD 67.5/MT in Apr’17.
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