Iron ore exports in low gear over January-April, need to ramp up: Platts Analytics

摘要

Most major iron ore producers fell behind on their export guidance on an annualized basis over January-April which, along with a slow start to May, indicates potentially ongoing weak supply in 2021, according to S&P Global Platts Analytics. Brazil's Vale shipped 80.9 million mt over the first four months of the year at an annualized rate of 246 million mt/ year, according to analysis using cFlow, Platts trade-flow software. Vale provides production rather than export guidance and is targeting output of 315 million-335 million mt in 2021. Platts Analytics estimates that Vale will sell around 23 million mt of this amount to domestic customers, meaning it is well below the run rate target required for the export component.