Brazil's iron ore exports plummet 37% MoM in Jan

After recording a sizeable on-month rise of 13% last December, Brazil's iron ore exports to global destinations experienced a large 37.1% slump last month to reach about 25 million tonnes, according to new statistics from Brazil's Ministry of Industry, Foreign Trade and Services. The volume was still 17.6% higher than in January 2022, however.

The slide wasn't really unexpected though, industry sources noted, as January is often the month when Brazil's iron ore shipments retreat substantially. Brazilian miners usually focus on meeting their annual or half-year targets in December so their ore shipments generally pickup, only to slide in January when maintenance work