Brazil Iron Ore Exports Down 18% in Nov'19

World's second-largest exporter of iron ore - Brazil has recorded a decrease in iron ore export volumes to 27.25 MnT in Nov'19, as compared to Oct'19 which was at 33.35 MnT, according to trade statistics released by Brazil customs. On yearly basis, exports dropped 20% as against 33.97 MnT in Nov'18.

However, total Brazil iron ore exports for CY19 (Jan-Nov) has decreased by 14% to 312.15 MnT as against 361.04 MnT in CY18 (Jan-Nov).

Brazilian iron ore exports are expected to continue to be on lower side amid partial operation halt at Brucutu mines, Vale. During the period of stoppage, the Brucutu mine is supposed to be operating at only 40% of its capacity through wet processing with tailings filtration and dry stacking. The estimated impact of the same is at around 1.5 MnT of iron ore per month over the one-two month's stoppage.

Average iron ore prices up 4% in Nov'19:
The average price of iron ore exported from Brazil for Nov'19 witnessed 4% increase on a monthly basis to USD 65.2/MT, as against USD 62.8/MT, FoB Brazil in Oct'19. On a yearly basis, the average price of iron ore in Nov'19 witnessed 19% rise as compared to Nov'18 price at USD 54.8/MT, FoB Brazil.