By Carolina Curiel
SPOKANE (Scrap Monster): The country's iron ore exports reduced sharply during the month of February this year, says latest statistics released by the Secretariat of Foreign Trade (SECEX) under the Ministry of Development, Industry and Commerce (MDIC) of Brazil. The exports had started the year on a strong note, with exports climbing higher considerably during January this year.
According to statistics, Brazil’s iron ore exports totaled 25.73 million tons in February this year. The exports have edged lower by nearly 14% during the month, in comparison with the same month a year before. The iron ore exports by the country had totaled 29.95 million tons in February 2016. When matched with the prior month, exports in February were down considerably by just over 11%. Brazil had exported 28.915 million tons of steel making raw materials during the first month of the current year.
The largest destination of iron ore exports from Brazil was China. The Chinese imports from Brazil totaled 13.75 million tons, accounting for more than 53% of the total Brazilian exports during the month. The imports by China fell sharply from 16.239 million tons during the previous month. The second largest importer was Malaysia with 2.74 million tons, followed by Oman (1.16 million tons) and Japan (1.07 million tons).
The country's iron ore exports had increased sharply during the month of January this year. Brazil’s iron ore exports totaled 28.915 million tons during the month. The total value of exports by the country skyrocketed by nearly 147% over the year from $656.111 million in January 2016 to $1.620 billion in January this year.
The largest importer of iron ore from Brazil during the month was China. The imports by China totaled 16.239 million tons, valued at $874.33 million. The export prices averaged at $53.80 per ton. Brazil exported 2.723 million tons of iron ore to Japan during the month. The Japanese imports from Brazil were valued at $142.602 million. The average price of export stood at $52.4 per ton. In third place was Malaysia with 1.841 million tons. The total value of imports by the country amounted to $99.814 million. The imports of Brazilian ore by Malaysia averaged at $54.20 per ton during January this year. The other key importers of iron ore from Brazil were the Netherlands (1.342 million tons), Oman (878,644 tons), France (866,490 tons) and Turkey (600,989 tons).
Brazil’s iron ore exports declined considerably during December 2016. The exports totaled 35.117 million tons during the month, lower by 11.1% when matched with the exports during the corresponding month the year before. The value of exports totaled $1.769 billion during the month. The average prices increased sharply to $50.4 per ton FOB in December 2016.
The largest importer of iron ore from Brazil during the month was China. The imports by China totaled 21.245 million tons, valued at $997.4 million. The export prices averaged at $46.90 per ton. Brazil exported 2.085 million tons of iron ore to Japan during the month. The Japanese imports from Brazil were valued at $113.869 million. In third place was Malaysia with 1.855 million tons. The other key importers of iron ore from Brazil were the Netherlands (1.724 million tons), Oman (759,000 tons), France (670,000 tons) and Taiwan (660,000 tons).