BRASÍLIA: The most recent statistics released by Brazil’s Secretary of Foreign Trade (Secex) indicates significant rise in iron ore exports by the country during the month of February 2016.
Brazil’s iron ore exports during Feb ’16 totaled 27.447 million tons, up by 29% when compared with the previous month. The country’s iron ore exports had totaled 21.277 million tons during January this year. The iron ore export price averaged at $21.49 FOB per ton, substantially lower when compared with a year before. The value of iron ore exports out of the country totaled $589.836 million during the month.
The largest destination of iron ore exports from Brazil was China. The exports to China during February ’16 totaled 16.50 million tons, accounting for nearly 60% of the total exports by Brazil during the month. The exports to China were up by 39% over the previous month.
The second largest destination of Brazil’s iron ore exports was the United States. The exports to the US totaled 3.119 million tons. In third place was Turkey with 682,600 tons. The iron ore exports to Turkey surged significantly by 58% when matched with the previous month. The country’s exports to the Middle East increased sharply by 44% month-on-month to 552,600 tons.