Brazilian iron ore exports increased by 3.25% year-on-year to 35.11 million tonnes in May, says the Brazilian Ministry of Development, Industry and Foreign Trade (Mdic) in its monthly report monitored by Kallanish.

According to the data, total iron ore exports had a value of $1.65 billion on a fob basis, with an average price of $47.04/tonne fob in May. This was up 23.1% year-on-year.

During May, Brazil's flat steel exports totalled 274,695t, up by almost 52% year-on-year, while the export value grew by 76.2% y-o-y to $176 million, again on a fob basis.

Brazil's export of semi-finished steel products reached 984,225t, 12.3% more compared to the same period of last year. Semi-finished steel exports were valued at $428.8m fob, an increase of 71.5% y-o-y.