IRON ORE EXPORTS FROM BRAZIL 20% AHEAD FEBRUARY 2023 TOTAL

Brazil’s iron ore exports surge by 20% compared to last year, exceeding February 2023 totals by the fourth week, reports Secex. With 23.33 million tons exported, surpassing last year’s 23.30 million, four days remain in February. If the current pace of 1.55 million tons per day persists, exports could match January’s 29.5 million tons. Vale’s 15% production growth and highest December output since 2018 contribute to robust exports. December saw one of Brazil’s highest iron ore export volumes in history, trailing only behind December 2015. Secex data indicates a 16.6% price increase to $98.3 per ton, yielding export revenue of $2.3 billion, surpassing 2023’s $1.96 billion.
Source: Terra / Datamar News