Brazil iron ore exports declined in May

Author: Paul Ploumis08 Jun 2015 Last updated at 06:17:55 GMT

SAO PAULO (Scrap Monster): According to latest trade data published by the Ministry of Development, Industry and Foreign Trade (MDIC) of Brazil, the country’s iron ore shipments dropped marginally during the month of May this year.

The country’s exports of iron ore during May ’15 totaled 23.65 million mt, 0.76% lower when compared with the exports during Apr ‘15. Brazil had exported 23.83 million mt of iron ore during April this year. The average price of exports per tonne dropped significantly by 19% from $33.3 per tonne in Apr ‘14 to $27 per tonne in May ‘15.

The largest export destination of Brazilian iron ore during May this year was China. The exports to China totaled 12.968 million tonnes, accounting for nearly 55% of the total exports out of Brazil. In total, shipment to Asian region totaled 17.76 million tons during the month.

The cumulative iron ore exports by Brazil during the initial five-month period of the year totaled 125.563 million mt. The exports during the entire year are expected to cross 300 million tons.