World’s second largest iron ore exporter – Brazil recorded a marginal drop in its monthly iron ore export volumes to 21.71 MnT for Mar’20 as against 22.10 MnT in Feb’20, according to trade statistics released by Brazil customs. The exports have dropped to eleven months low as the level was last witnessed in Apr’19 at 18.34 MnT. The Mar’20 figures released by customs is for 22 days.
On a yearly basis too, exports depicted fall by 2% as against 22.18 MnT in Mar ’19.
Brazilian exports have decreased for the month due to pandemic Coronavirus outbreak inhibiting Brazilian exports as well as Chinese imports of raw material.
Average iron ore prices down 6% in Mar’20:
The average price of iron ore exported from Brazil for Mar’20 witnessed 6% fall on a monthly basis to USD 64/MT, FoB Brazil as against USD 68.5/MT, FoB Brazil in Feb’20. However, on a yearly basis, the average price of iron ore in Mar’20 increased slightly as compared to Mar’19 price at USD 63.2/MT, FoB Brazil.
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