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Friday, August 23, 2019

Maritime Logistics Professional

May 21, 2019

Brazil Iron Ore Exports on the Rrise

© Cifotart / Adobe Stock

© Cifotart / Adobe Stock

Brazil's iron ore exports rose sharply in the first half of May, data showed on Monday, recovering from a more than seven-year low in April, as higher prices encouraged sellers to close more deals internationally.

Until May 17, Brazil exported 16.2 million tonnes, according to data from the Foreign Trade Secretariat (Secex), which is part of the Ministry of the Economy. In the whole of April, Brazil exported 18.3 million tonnes, as the impact of miner Vale's Brumadinho dam collapse weighed.

The export recovery comes amid higher iron ore prices. On average in May, the price of iron ore shipped by Brazil was $64.80 per tonne, compared with $58.70 in April, according to the Secex.

(Reporting by Roberto Samora; Editing by Lisa Shumaker)