Brazil: Vale Iron Ore Exports in July Hit Highest so far in CY18

Trade statistics released by customs show that Brazil has exported around 36 MnT iron ore (including pellets) in July’18. On monthly basis, Iron ore export by Brazil witnessed marginal increase as against 35.31 MnT in June’18. Brazil has recorded 15% Y-o-Y increase in export volumes in July’18 as compared to July’17 exports at 31.31 MnT,

Out of the total 36 MnT exports from Brazil in July’18, 32.76 MnT was iron ore, in line with June’18 exports at 32.85 MnT. Remaining 3.24 MnT quantity exported in July’18 was pellets, up 32% M-o-M against 2.46 MnT in June’18.

Hike in prices of high grade ore – China accounted for more than half of Brazilian iron ore exports, amidst stricter regulations in China, buyers prefer high grade ore resulting in increased imports from Brazil. Prices of Brazilian fines (Fe 65%) increased to USD 94.1/MT, CFR China by end of July against USD 91.7/MT, CFR in end of June.

Vale iron ore exports in July’18 hit highest so far in CY18:

Vale- the world’s largest iron ore producer exported around 30.71 MnT iron ore in July’18, up 2% against the previous month exports at 29.97 MnT. This is company’s highest monthly export volumes so far in CY18.

Anglo American witnessed nil exports for the month of July’18. This is due to operation suspension at Minas Rio mines owing to pipeline leakage detected in Mar’18. The mine is expected to resume operations in Q3 CY’18.

Quantity in MnT
Source: Inchcape Shipping Services, Brazil
Provisional Data

China iron ore imports from Brazil remain firm:

China, largest importer of Brazilian iron ore contributed 64% of total exports of Brazil in July’18 at 21.09 MnT. The imports were firm compared to June’18 imports at 21.42 MnT.

Malaysia stood the second largest importer at 1.95 MnT (down 17% M-o-M) followed by Japan at 1.86 MnT (up 33% M-o-M)

South Korea and France witnessed sharp rise in July’18 imports at 1.19 MnT (up more than four folds M-o-M) and 1.05 MnT (up more than three folds on monthly basis) respectively.

Country-Wise Brazil Iron Ore Exports: July’18 v/s June’18

Quantity in MnT
Source: Inchcape Shipping Services, Brazil
Provisional Data

Ponta Da Madeira iron ore exports up 10% in July’18 –

Ponta Da Madeira accounted for 57% of total Brazilian export in July’18 at 18.75 MnT (up 10% M-o-M), followed by Rio De Janeiro at 7.94 MnT (24% of total exports) and Tubarao Port at 5.82 MnT.

Quantity in MnT
Source: Inchcape Shipping Services, Brazil
Provisional Data