Brazilian Iron Ore Exports Drop to 13-Month Low

Iron Ore

Brazilian iron ore exports fell 8.4 Mt year-on-year to a 13-month low of 21.5 Mt in May, provisional government data show. At 115.7 Mt, January-May exports were down 17.1 Mt year-on-year to the lowest level for the period since 2009. Meanwhile, the number of observed Valemax Brazilian iron ore liftings in May were an 11-month high, reducing spot cargo availability.