Brazil's iron ore exports retreat in January

Brazil, the world's second-largest exporter of iron ore after Australia, shipped 28.5 million tonnes of iron ore in January this year, lower by a large 28.7% from the previous month and by 7.6% on year, according to preliminary statistics from Comex Stat, a data platform for Brazil's foreign trade in goods.

The decline might be linked to persistent rainfall during Brazil's rainy season, which typical runs from December to May. Notably, the country experienced heavy rains in the middle of last month, Mysteel Global learned from local media. In the same period, the weekly iron ore shipments from Brazil's nine ports