World’s second largest exporter of iron ore – Brazil has recorded 10% increase in export volumes to 37.2 MnT in Oct’18 as compared to Sep’18 exports at 33.90 MnT, according to trade statistics released by Brazil customs.
Amidst uncertainty in winter production curbs , Chinese mills still prefers low alumina high- grade Brazilian iron ore (Carajas fines) resulting in increased exports from Brazil.
On yearly basis, Iron ore export by Brazil witnessed 6% rise in Oct’18 as against 35.3 MnT in Oct’17.
Average iron ore prices up 7% in Oct’18
The average price of iron ore exported from Brazil for Oct’18 witnessed at USD 55.7/MT, increase of 7% on monthly basis as against USD 52/MT in Sep’18. Demand for high grade iron ore in China is expected to sustain amid China’s steel capacity cuts and stringent environmental norms.
The average price of iron ore in Oct’18 witnessed stable as compared to Oct’17 price at USD 55.9/MT.
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