Iron ore exports rise in February despite Vale’s cuts

According to Secex data, Brazil’s average daily shipments of iron ore rose by 9.5% to 1.4m tons per business day in February, year-on-year. This is a total of 28.9m tons over 20 business days, despite Vale SA halting several of its operations following January’s disaster at Brumadinho. Last year’s average was 1.3m tons per business day with a total of 23.8m tons exported in the same period.

Secex data shows that exports slowed slightly from January when daily average iron ore exports stood at 1.5m tons. Iron ore prices rose to an average of US$52.9 per ton last month, compared to US$51.4 per ton in January.

The following DataLiner graph shows 10-year iron ore (HS 2601) export trends against export revenues:

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