Brazil iron ore export hits record high

BRAZILIAN IRON ORE EXPORTS VOLUME reached 37.86 million tonnes to record an 18.5 per cent rise in September compared to the same period last year.

According to the Ministry of Industry, Foreign Trade and Services, the volume shipped by the world’s second largest iron ore producer last month is the biggest since December 2015, when Brazil exported a monthly record of 39.5 million tonnes,

Compared with August, there was a 21 per cent increase in Brazilian iron ore shipments for the month of September.

The massive export is attributed to the increase in the pace of production by Vale, the largest iron ore producing company in the world following the covid-19 pandemic.

Brazil’s iron ore exports, which represent 59 per cent of the country’s mineral production, also totaled $5 billion in Q2, 6 per cent higher than Q1 2020, but 5 per cent lower than in Q2 2019.

The South American country exported 76 million tonnes, 8 per cent above the total registered in Q1 2020, but 3 per cent lower than Q2 2019.

Iron ore exports for the month of October tilts towards a decline compared to September as the Viga plant resumed full operations on Thursday following a suspension in operations that lasted six days over alleged issues pertaining to its operating permit.

The mining company said the halt in production has resulted in the loss of 11,000 tonnes of daily production.

The metals industry group projects that Brazil will export 310 million tonnes in 2020, lower than the 340 million tons exported in 2019 and the market is on a steady recovery as China’s strong demand keeps surging.