Brazil's global iron ore exports further down 4.5% MoM in Nov

Brazil exported 33.7 million tonnes of iron ore in November, with the volume falling for the second straight month by another 4.5% from October, according to new statistics from Comex Stat, a data platform for Brazilian foreign trade in goods.

Despite the continuous monthly declines, the country's iron ore exports last month were still 7.2% higher than those in November 2023, the data showed. November usually marks the beginning of Brazil's rainy season that will last until April, so the seasonal decline of iron ore shipments last month was within expectations, a Shanghai-based market