SAO PAULO: According to latest trade statistics released by Brazil’s Ministry of Development and Foreign Trade (MDIC), the country’s ferroalloy exports declined sharply during the starting month of the New Year.
The exports dropped 41.8% to 21,266 mt in January this year when compared with the exports of 36,555 mt during the same month in 2014. Also, the value of exports during the month was down 9.3% year-on-year to $203.36 million FOB when compared with $224.34 million FOB during Jan ‘14.
The shipments during the month were 20.9% lower when compared with the previous month. The exports had totaled 26,913 mt during December 2014. The value of exports in Jan ’15 was marginally up from $202.98 million FOB during Dec ’14.
The largest export destination of Brazilian ferroalloys was China. The imports by China totaled 4,762 mt, accounting for nearly 23% of the total Brazilian exports. The Chinese ferroalloy imports from Brazil dropped 7.9% year-on-year when compared with the imports of 5,133 mt during Jan 2014. Month-on-month, the imports increased by 5.8%. The Chinese imports of ferroalloys during Dec ’14 had totaled 4,466 mt.
The second largest buyer of Brazilian ferroalloys in 2014 was Netherlands. The imports by the Netherlands totaled 2,390 mt during Jan ‘15, which is 56.7% lower when compared with the imports of 5,528 mt during the same month in 2014. The value of shipments to the Netherlands totaled $43.173 million FOB in January this year.
