SÃO PAULO The value of iron ore exported from Brazil dropped in July on lower prices, even as shipping volumes rose to their highest monthly level so far this year.
The country exported 29.7 million tonnes of iron ore during the month, up from 27.3 million tonnes a year earlier, according to data from Brazilian foreign trade ministry MDIC.
However, export revenue fell 6.3 percent year on year in July to $2.66 billion due to a drop in iron ore prices from $2.84 billion a year earlier.
The average f.o.b. iron ore price fell to $89.80 per tonne last month from $104.30 per tonne in July 2012.
A version of this article was first published in AMM sister publication Steel First.