Brazilian iron ore exports increased substantially in both terms of volume and value in May, Kallanish learns from Brazil’s Secretariat of Foreign Trade (Secex). Iron ore shipments increased by 22.8% year-on-year to 34 million tonnes in May, or nearly 2.5 million tonnes more compared to the same month in 2015. The total value of exports increased by 44% y-o-y to $1.3 billion.

Exports of the raw material in the first five months of the year totalled 148mt, or 9.2% more compared to the same period in 2015. The total value of these exports fell however by -25.7% y-o-y to $4.4 billion.

Between January and May 2016, the main destination of iron ore exports was China, which acquired more than half of Brazil’s iron ore total exports, worth approximately $2.3 billion, or -5.8% less y-o-y. This was followed by Japan, which imported $377m worth of the raw material, -27.68% less y-o-y, and Malaysia, where Brazil exported $327m of iron ore, -13% less y-o-y.

Nine of the ten biggest importing nations of Brazilian iron ore reduced the value of their imports, except for Italy which imported $104m, or 18.56% more y-o-y, Kallanish notes.

Exports of semi-finished products in May increased by 29.5% y-o-y to 876,143t, whilst total exports in the first five months of the year totalled 3.4mt, or 19.8% more y-o-y. Exports of semis in May reached $249m, 0.4% more y-o-y. The total value of exports in this segment between January and May fell by -24.6% y-o-y however to $916m.

Meanwhile, flat steel exports fell by a substantial -40% y-o-y to 180,784t in May. Between January and May flat steel shipments reached 1.3mt or 24.7% more y-o-y. The total value of exports for this segment fell by 44% y-o-y to $99m in May, and by -14.8% y-o-y to $605 in the first five months of the year.