Brazil: Iron Ore Exports Down 17% M-o-M in Feb’20

World's second largest iron ore exporter – Brazil recorded 17% drop in its monthly iron ore export volumes to 22.10 MnT for Feb’20 as against 26.79 MnT in Jan’20, according to trade statistics released by Brazil customs. On yearly basis too, exports depicted fall by 24% as against 28.93 MnT in Feb’19.

Brazilian exports have decreased for the month due to material availability crises from Vale, amid dealing with the aftermath of Brumadinho dam disaster. Also, the fall in Chinese demand caused due to Chinese Lunar New Year holidays followed by Coronavirus outbreak led to decline in exports from Brazil. Vale underwent collapse at its dam at