Iron ore exports from Brazil 20% ahead February 2023 total

Brazil’s iron ore exports are pacing ahead at a 20% stronger rate compared to the same month last year, with shipments up to the month’s fourth week surpassing the total exported by the country in February 2023, according to data from the Secretariat of Foreign Trade (Secex) released on Monday.

The country’s total exports amounted to 23.33 million tons, versus 23.30 million in all of February last year, with four business days still remaining in the month.

If the pace of 1.55 million tons of shipments per day continues, February’s exports could match those of January, which closed at 29.5 million tons, although the current month is shorter.

The robustness in shipments comes after Vale, one of the world’s largest iron ore producers, reported a 15% growth in its production between November and January, compared to the same period in previous years, the company disclosed in a presentation on Monday.

Vale also recently reported that in December, monthly iron ore production was the highest since 2018.

In December, Brazil recorded one of the highest monthly volumes of iron ore exports in history, with revised figures reaching 39.3 million tons, now trailing behind the 39.5 million tons in December 2015.

The following chart shows the volume of Brazilian iron ore exports (hs 2601) between January 2022 and December 2023. The data is from DataLiner.

Iron Ore Exports | Jan 2022 – Dec 2023 | WTMT

Source: DataLiner (click here to request a demo)

Secex data also shows that iron ore prices shipped in February are 16.6% higher compared to last year, at $98.3 per ton.

This already translates into iron ore export revenue of $2.3 billion for the country, also above the $1.96 billion for the full February in 2023.

Source: Terra

Click here to read the original news report: https://www.terra.com.br/economia/exportacao-de-minerio-de-ferro-do-brasil-ja-supera-total-de-fevereiro-de-2023,b7039283fd5cd6de92a0c24542c8d9a1mpiqv3qa.html

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