Brazil iron ore export revenue falls to $1.37b in July
BRASILIA: Brazil’s iron ore exports fell 37.5% year-on-year in July to US$1.37bn, according to foreign trade department Secex.
The revenue drop was mostly due to falling iron ore prices amid a supply glut on the international seaborne market. The average price of Brazilian iron ore shipments in July was US$40.1/t, down 42.7% year-on-year.
In terms of volume, exports increased 9.1% to 34.0Mt.
Flat-rolled steel exports jumped 83.6% to US$200mn as volumes increased 188% to 372,000t. The average price fell 36.3% to US$536.60/t.
Exports of semi-manufactured iron and steel products fell 8.6% to US$312mn, with volumes increasing 44.2% to 927,500t and prices falling 36.6% to US$336.60/t.
Brazil’s aluminum exports fell 13.5% to US$41.6mn in July. Aluminum shipment volumes rose 4.2% to 24,300t, while prices decreased 17% to US$1,714.80/t.
