World’s second largest exporter of iron ore – Brazil has recorded 15% Y-o-Y increase in export volumes to 36 MnT in July’18 as compared to July’17 exports at 31.31 MnT, according to trade statistics released by Brazil customs.
On monthly basis, Iron ore export by Brazil witnessed a marginal increase in July’18 as against 35.31 MnT in June’18.
China accounts more than half of Brazilian iron ore exports, amidst stricter regulations in China, buyers are preferring low alumina high- grade Brazilian iron ore (Carajas fines) resulting in increased exports from Brazil.
The monthly average price of iron ore increased to USD 50.4/MT, FoB in July’18, up by 11% compared to USD 45.5/MT in June’18. The average price for July’18 depicted a rise of 34% on yearly basis as against USD 37.6/MT in July’17.
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