RIO DE JANEIRO, BRAZIL – Exports of iron ore from Brazil fell by an average of 63.8% in the first three working days of November, compared to the amount shipped per day in the same month last year, according to data released Monday by the Secretariat of Foreign Trade (Secex).
The shipments totaled about 527 thousand tons a day in the accumulated first week of the month, versus 1.46 million tons of the daily average of the entire November in 2020.
The reduction in shipments comes amid a sharp drop in iron ore prices in China, with weaker demand from the main global buyer.
Soybeans, another important product in Brazil’s export portfolio, maintained its strength, with a high of almost 300% daily, to 286.4 thousand tons/day.
Shipments of the oilseed from Brazil totaled about 860 thousand tons in three days, more than half the volume seen in the total of November last year (1.435 million tons).
Source: Reuters