–Brazil iron ore exports impacted a heavy downturn as Vale underwent collapse at its dam at Corrego do Feijao mine in Minas Gerais in Brumadinho on 25th Jan’19. Due to which the export volumes for iron ore YTD fell 11.2% Y-o-Y to 262.04 MnT till Oct’19 against preceding year.
–China by far the highest recipient of Brazillian iron ore accounted a fall of 11.1% Y-o-Y. Shipments rebounded since June and further accounted a decline in its iron ore import volume to 165.56MnT till Oct’19 against 186.16MnT in 10M CY’18. Brazil iron ore exports to Japan moved down 24.6%, South Korea (down – 17.6%) & Netherland (down – 24.7%) Y-o-Y till October this year.
–Malaysia on other hand has observed a rise of 49.4% Y-o-Y to 24.26 MnT against 16.24 MnT in 10M CY’18. Followed by Bahrain, Turkey & Oman with (up – 35.2%), (up – 24.4%) & (up – 14.4%) Y-o-Y respectively.
| Country Wise – Brazil Iron Ore Export 2019 vs 2018 | |||
| Importing Country | 2019 (Jan-Oct) | 2018 (Jan-Oct) | % Change Y-o-Y |
| China | 165.56 | 186.16 | -11.1 |
| Malaysia | 24.26 | 16.24 | 49.4 |
| Japan | 10.01 | 13.28 | -24.6 |
| Netherland | 9.20 | 12.22 | -24.7 |
| Oman | 9.11 | 7.97 | 14.4 |
| Bahrain | 6.68 | 4.94 | 35.2 |
| South Korea | 6.12 | 7.43 | -17.6 |
| Turkey | 4.44 | 3.57 | 24.4 |
| France | 4.12 | 5.66 | -27.2 |
| Others | 22.53 | 37.49 | -39.9 |
| Total | 262.04 | 294.96 | -11.2 |
Fig in MnT
Provisional Data
Source: SteelMint, Customs
Leave a Reply