Brazil’s iron ore exports hit 7-year low in April

Brazil’s iron ore exports registered a significant fall in April 2019, down 29% to 18.34m tons compared to the same month last year, the lowest monthly volume since January 2012, according to Secex data. Export revenues reached US$1.08bn in the same month, down 27% year-on-year. January’s disaster at Brumadinho led to numerous production cuts by the world’s largest iron ore producer, Vale SA, has profoundly impacted the country’s export statistics.

April’s result marks the second consecutive monthly fall in exports of the commodity. Vale has revised it’s iron ore and pellet sales estimate to between 307m and 332m tons this year, from the previously estimated 382m tons.

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