Brazilian iron ore exports recover in June

In June, Brazilian iron ore exports registered the highest monthly volume this year at 30.05 million tons. The total is about 1.3% higher compared to the same period last year, according to the Foreign Trade Secretariat (Secex).  Iron ore shipments also increased by 40% in comparison with the previous month, when they totaled 21.5 million tons, a drop of almost 30% when compared to May 2019.

The recovery in Brazilian exports coincides with an expansion of China’s industrial activity – the largest global iron ore importer – in June, due to the relaxation of measures imposed to contain the coronavirus epidemic.  Brazil finished the first half of this year by exporting around 145 million tons of iron ore, compared to the 162.5 million tons shipped in the same period in 2019, according to Secex figures.

Source: Reuters

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