World’s second largest exporter of iron ore – Brazil has recorded export volumes of 29.95 MnT in Mar’18. The exports witnessed a sharp increase of 26% M-o-M in Mar’18 as against 23.79 MnT in Feb’18.
However, on a Y-o-Y basis, iron ore exports from Brazil recorded a decline of 18% in Mar’18 as compared to Mar’17 which stood at 36.4 MnT then.
Seaborne iron ore prices in China at beginning of March remained on the higher side but from the second week of March, it started falling, due to weak construction season, a decline in steel futures and higher port inventory.
The monthly average price of iron ore increased up to USD 56/MT, FoB in Mar’18 compared to USD 52.9/MT in Feb’18. However, the average price for Mar’18 witnessed a sharp decline of 12% on yearly basis as against USD 63.9/MT in Mar’17.
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