Brazil Iron Ore Exports Up 11% M-o-M in Apr'20
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World's second largest iron ore exporter - Brazil recorded 11% rise in monthly iron ore export volumes to 24.01 MnT as against 21.71 MnT for Mar'20 , according to trade statistics released by Brazil customs. The exports rebounded in the month of April'20 after recording 11 months low in Mar'20.
On a yearly basis too, exports depicted increased by 31% as against 18.34 MnT in Apr '19.
The Brazilian exports picked up amid favorable weather conditions for the month. Iron ore sales from world's largest miner Vale, Brazil recovered as the rainy season came to an end. The miner's previous few months shipments were on lower side amid unscheduled maintenance of conveyor belt, operational restrictions at the Northern Range affecting output, stronger weather related issues and heavy rains in South eastern Brazil.
Brazil iron ore exports to China up 17% M-o-M
China continued to remain the largest importer of iron ore from Brazil in the month of Apr'20 at 16.39 MnT, up 17% as against 13.98 MnT in Mar'20. The Chinese imports picked up amid rise in production by steel mills post lockdown and expected recovery in construction activities.
Malaysia stood second largest importer at 1.55 MnT, up two folds M-o-M followed by Japan at 1.41 MnT (up 12% M-o-M) and South Korea at 0.88 MnT.
| Country | Apr-20 | Mar-20 |
| China | 16.39 | 13.98 |
| Malaysia | 1.55 | 0.77 |
| Japan | 1.41 | 1.26 |
| South Korea | 0.88 | 1.01 |
| Netherland | 0.79 | 1.01 |
| Others | 2.97 | 3.68 |
| Grand Total | 24.01 | 21.71 |
Qty in MnT
Source: Brazil Customs
Port wise Brazilian exports in Apr'20
Sao Luis stood the largest exporting port for the month at 12.42 MnT, up 10% on a monthly basis as against 11.34 MnT in Mar '20. Itaguai stood second largest exporting port at 5.15 MnT (up 7%) followed by Vitoria at 3.89 MnT (up 35% M-o-M)
Outlook: Brazilian iron ore exports for the upcoming month may fall amid rising concerns over continuous spread of COVID 19 infection in the country. This is evident from the increase in iron ore prices last weekend. Chinese spot iron ore fines (Fe 62%) prices increased sharply on 8th May'20 to USD 88.45/MT, CFR China. The prices picked up by 5% as against USD 84.20/MT as on 6th May'20.
