World’s second largest exporter of iron ore – Brazil has recorded export volumes at 38.98 MnT in May’18. The exports witnessed a sharp increase of 51% M-o-M in May’18 as against 25.88 MnT in Apr’18. The Brazilian exports have recorded an increase in the month of May’18 due to rising need of high grade ore from China.
China accounts for around 50% of Brazilian iron ore exports, amidst stricter regulations in China, buyers prefer to buy low alumina Brazilian iron ore (Carajas fines) resulted still mills are using the high-grade material.
On yearly basis, iron ore exports from Brazil recorded 11% increase in May’18 as compared to May’17 exports at 35.11 MnT.
The monthly average price of iron ore decreased to USD 39.7/MT, FoB in May’18, down significantly by 31% compared to USD 57.4/MT in Apr’18. However, the average price for May’18 witnessed a fall of 16% on yearly basis as against USD 47/MT in May’17.
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