Brazil's global iron ore exports retreat 13% MoM in August

Brazil exported 34.3 million tonnes of iron ore in August, lower by 12.7% from July and representing the first on-month decline in shipments since April, according to new statistics from Comex Stat, a data platform for Brazilian foreign trade in goods. Last month's export volume was also 8% lower compared with August 2023.

Among the total, Brazil's iron ore cargoes bound for China, the country's top destination of the commodity, also fell by 6.4% on month to reach 26.3 million tonnes, snapping a four-month increase. Nonetheless, iron ore shipments to China accounted for a larger proportion of Brazil's total exports, with its