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Brazil’s iron ore exports fall 8.6%

Keywords: Tags  Brazil, iron ore, Brazilian iron ore, imports, MDIC

SAO PAULO -- Brazilian iron ore exports declined again in April compared with the same month last year, following the trend seen in both February and March.

The country exported 23.34 million tonnes of iron ore last month, down 8.6 percent from 25.54 million tonnes in April 2012, according to figures released May 2 by Brazilian foreign trade ministry MDIC.

Meanwhile, export revenue of $2.53 billion in April was in line with the year-earlier $2.56 billion. This stability was due to a pricing recovery, as average f.o.b. iron ore prices increased to $108.60 per tonne from $100.50 per tonne in the same comparison.

Compared with March, iron ore exports for April increased 3.4 percent from 22.57 million tonnes. Export revenue also rose slightly from a month-earlier $2.5 billion, while the average f.o.b. iron ore price dropped from $110.80 per tonne in March, according to MDIC.

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