Brazil's Iron Ore Exports in May '14 increased 24%, says trade data

SAO PAULO (Scrap Monster): In accordance with the latest data released by the Brazilian Ministry of Development, Industry and Foreign Trade, the country's iron ore exports rose significantly during the month of May this year.

The country exported 30.69 million tons of iron ore during the month. This is 24.25% higher when compared with the exports during a month before. Brazil had exported 24.70 million tons of iron ore during April this year. The exports during May '14 were 12.92% higher when compared with the exports during the same month a year before. Brazil's iron ore exports had totaled 27.18/ million tons during May '13.

The revenues generated by exports of iron ore totaled $2.59 billion during May this year. The export revenues witnessed sharp rise of 25.73% from the previous month. However, the revenues fell by over 12% when compared with those during May 2013.

The country's iron ore exports during the initial five-month period of the year totaled 127.19 million tons. The cumulative exports during Jan-May this year were 7.4% higher when compared with the exports during the corresponding five-month period in 2013.