Iron Ore Exports From Brazil

摘要

Official trade data for the 1h15 indicates that Brazil's iron ore exports have risen 11 Mt year-on-year to 167.8 Mt. As the chart (right) shows, this marks a significant step up in 1h export volumes from previous years as new mine capacity enters operation. Around 70% of Brazil's iron ore exports during the January-May period were shipped to destinations in Far East Asia (see chart below), while 18% were bound for Europe and 7% to the Middle East. This distribution has remained more or less unchanged since 2012 and underline the continued significance of Brazil's iron ore export performance to tonne-mile demand in the Capesize sector.