Brazil’s iron ore and pig iron exports show seasonal changes

Brazil experienced significant changes in its iron ore and pig iron exports in November. According to Brazilian customs statistics, pig iron exports in November decreased by 55% compared to the previous month, totaling approximately 203,000 tons. During this period, the largest buyer was the United States, with 192,400 tons, followed by the Netherlands with 7,400 tons. Exports to Asian countries were around 3,000 tons. A large portion of the November exports came from the states of Minas Gerais, Espírito Santo, and Pará, with these states accounting for the largest share, totaling approximately 150,000 tons. 

On the other hand, Brazil’s iron ore exports increased by 5.8% y-o-y in the first 11 months of the year, reaching around 358.4 million tons. In November, iron ore exports totaled 33.7 million tons, showed a 4.5% decrease compared to the previous month but a 7.2% increase compared to the same period last year. The significant share of iron ore exports was to China, which accounted for 67% of total exports. This country was followed by Malaysia and Oman with 5.3% and 3.2% respectively. During this period, the value of iron ore exports increased by 2% year-on-year to USD 27.6 billion.