Brazilian iron ore shipments increase, concerns remain

摘要

Singapore—Amid improving iron ore export volumes out of Brazil in April compared with March, concerns over the longer-term supply of low-alumina fines continued to linger as the coronavirus pandemic continued. A total of 22.4 million mt of iron ore was exported in April, an almost 6% increase from March levels and indicating an average daily export rate of 0.75 million mt, according to shipment data. Brazilian iron ore shipments in the first quarter of 2020 were impaired by a heavy monsoon season, tightening availability of high grade Carajas fines (IOCJ) as well as other Brazilian medium grade products. Although expectations are for increased shipments into the second quarter, the potential for further supply disruptions has tempered optimism among market participants.