Brazilian Iron Ore Export Breakdown
Of the 35.3 Mt of iron ore exported from Brazil in October, 19.8 Mt was to China, up by 2.2 Mt year-on-year, according to the Tex Report. There was also growth in shipments to Malaysia (+0.5 Mt to a 20-month high of 2.7 Mt), where Vale maintains stockpiles and a transhipment facility, and Europe (+2.0 Mt to 5.9 Mt). Indeed, from a seven-year low of 54.1 Mt in 2016, Brazilian iron ore exports to Europe are on track to reach a four-year high in 2017. Shipments to Japan were up slightly year-on-year in October at 2.1 Mt.