Source: Shanghai Metals Market
According to latest trade data published by the Brazilian Ministry of Development, Industry and the Secretariat of Foreign Trade (SECEX), the country’s iron ore exports rebounded during May this year. The exports were up marginally by 3.3% over the previous year. It must be noted that Brazil’s iron ore exports had declined sharply by 17% in April this year.
Brazil exported 35.112 million tons of iron ore to overseas destinations during the month of May this year. This is marginally higher by 3.25% when matched with the year before. The country’s ore exports had totaled 34.006 million tons during May 2016. The largest destination of Brazilian iron ore was China. The exports to China totaled 21.092 million tons, accounting for over 60% of the total Brazilian exports during the month. The second largest destination was Japan with 2.213 million tons, followed by the Netherlands with 1.993 million tons.
The combined exports during the initial five months of 2017 totaled 150 million tons. This is marginally higher by 1.3% when matched with the exports during the corresponding five-month period in 2016. The ore exports by the country had totaled 148.091 million tons during Jan-May ’16. The exports of Brazilian ore to China during the first five months have increased by 5.5% over the previous year to 83.8 million tons. Also, the country’s iron ore exports to the European Union rose to 17.3 million tonnes in January- May this year, as compared with 16.6 million tonnes during the same period last year. Meantime, pellet exports from Brazil to fellow Mercosur nations surged higher by over 65% year-on-year to $79.6 million during Jan-May ’17.
As per data, Brazil exported 24.04 million tons of iron ore during the month, significantly down by 17% when compared with the same month a year before. The key destination of Brazilian iron ore was China. The Chinese imports of ore from Brazil totaled 13.035 million tons, accounting for more than 54% of total ore exports by Brazil during the month. The second largest importer of Brazilian ore was Malaysia with imports totaling 1.916 million tons in April 2017. The total value of exports amounted to $1.62 billion during the month. The export value surged higher by nearly 69% over the previous year.
Brazil’s iron ore exports surged higher by 20% over the previous year to total 36.39 million tons in March this year. China was the largest importer of Brazilian ore. The imports by China totaled 20.486 million tons, accounting for 56.3% share of Brazilian exports. In second place was Malaysia with imports of 2.435 million tons of Brazilian ore. The other primary importers during the month were the Netherlands (2.161 million tons) and Japan (1.753 million tons).
Brazil’s iron ore exports totaled 25.73 million tons in February this year. The exports have declined by nearly 14% during the month when matched with the previous year. The largest destination of iron ore exports from Brazil was China. The Chinese imports from Brazil totaled 13.75 million tons, accounting for more than 53% of the total Brazilian exports during the month. The other largest importers of Brazilian ore during the month were Malaysia (2.74 million tons), Oman (1.16 million tons) and Japan (1.07 million tons).