Brazil's iron ore exports start 2017 on strong note; surges 15% in Jan 2017

Posted on 03 March 2017
 

Source: Shanghai Metals Market

The country's iron ore exports increased sharply during the month of January this year, says latest statistics released by the Secretariat of Foreign Trade (SECEX) under the Ministry of Development, Industry and Commerce (MDIC) of Brazil.

Brazil’s iron ore exports totaled 28.915 million tons during the month. This is considerably higher by 15.5% when matched with the exports during the corresponding month the year before. The country had exported 25.037 million tons of iron ore during January 2016. Also, the total value of exports by the country has skyrocketed by nearly 147% over the year from $656.111 million in January 2016 to $1.620 billion in January this year. The average export price too has surged higher significantly by 113.8% year-on-year to $56.0 per ton FOB in Jan ‘17. The Brazilian iron ore exports had averaged at $26.2 per ton FOB in January 2016.

The largest importer of iron ore from Brazil during the month was China. The imports by China totaled 16.239 million tons, valued at $874.33 million. The export prices averaged at $53.80 per ton. Brazil exported 2.723 million tons of iron ore to Japan during the month. The Japanese imports from Brazil were valued at $142.602 million. The average price of export stood at $52.4 per ton. In third place was Malaysia with 1.841 million tons. The total value of imports by the country amounted to $99.814 million. The imports of Brazilian ore by Malaysia averaged at $54.20 per ton during January this year. The other key importers of iron ore from Brazil were the Netherlands (1.342 million tons), Oman (878,644 tons), France (866,490 tons) and Turkey (600,989 tons).

The exports of agglomerated iron ore during January ’17 totaled 2.317 million tons, significantly down by 38.1% when compared with the same month a year before. The Brazilian agglomerated iron ore exports had totaled 3.741 million tons during January 2016. The value of exports amounted to $194.528 million during Jan ‘17. The export value has dropped marginally by 1% when compared with the previous year. The Brazilian agglomerated iron ore exports were valued at $196.547 million during January 2016. The export prices of agglomerated ore saw considerable increase of almost 60% over the year. The average export price edged higher from $52.50 per ton in Jan ’16 to $83.9 per ton in Jan ‘17.

The largest importer of agglomerated iron ore from Brazil was the Netherlands. The imports by the country totaled 378,982 tons. The value of iron ore imports by the Netherlands totaled $31.634 million. The exports averaged at $83.50 per ton. The other key importers of Brazilian iron ore during the month were the USA (341,297 tons), Egypt (260,363 tons), South Korea (243,359 tons) and Japan (211,641 tons).

The exports of non agglomerated iron ore totaled 26.598 million tons, accounting for nearly 92% of the total exports. The non-agglomerated iron ore exports by the country increased by one-fourth when matched with 21.296 million tons exported during January 2016. The value of non-agglomerated iron ore exports has increased sharply by nearly 210% year-on-year to $1.426 billion from $459.564 million a year before. The ore export prices more than doubled from $21.6 per ton to $53.6 per ton.

The country exported non-agglomerated iron ore mainly to China. The Chinese imports from Brazil totaled 16.239 million tons at an average price of $53.8 per ton. The value of iron ore imports by China totaled $874.326 million. The other primary importers of non-agglomerated iron ore from Brazil during January this year were Japan (2.512 million tons), Malaysia (1.841 million tons) and the Netherlands (963,468 tons). 



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