Brazil's Iron Ore Price Drops by 17% to $69.1 per Ton in Two Months of Decline

Brazil

Brazil Iron Ore Export Price in June 2023

In June 2023, the price of iron ore in Brazil decreased to $69.1 per ton, which was 16.9% lower than the previous month. The export price experienced a significant reduction, with the most rapid growth occurring in February 2023 at a monthly increase of 14%. Despite reaching a peak of $96.2 per ton in June 2022, export prices failed to regain momentum from July 2022 to June 2023.

Average prices varied across major export markets. South Korea and Japan had the highest prices at $84.0 and $75.0 per ton, respectively, while China and Bahrain had the lowest prices at $66.0 per ton.

From June 2022 to June 2023, the most notable growth rate in terms of prices was seen in supplies to Malaysia (-2.3%), while prices for other major destinations experienced a decline.

Brazil Iron Ore Export Prices By Country (USD Per Ton)

Brazil Iron Ore Exports

In June 2023, the amount of iron ores and concentrates exported from Brazil slightly decreased to 34M tons, with a 2% reduction compared to May 2023. Overall, exports showed a relatively flat trend, except for a rapid increase of 41% in May 2023.

In terms of value, iron ore exports significantly dropped to $2.4B in June 2023. The pace of growth was highest in May 2023, with a 33% increase month-to-month.

Brazil Iron Ore Exports by Country

The main destination for iron ore exports from Brazil was China, receiving 26M tons and comprising 75% of total exports. Malaysia ranked second with 2.2M tons, while Japan held the third position with 900K tons.

From June 2022 to June 2023, the average monthly growth rate of volume to China was +1.2%, while Malaysia experienced a growth rate of +3.2% per month and Japan had a decline of -1.0% per month.

In terms of value, China accounted for 71% of total exports, followed by Malaysia with a 6.5% share and Japan with a 2.8% share.

From June 2022 to June 2023, the average monthly growth rate of value to China was -1.5%, while Malaysia saw a growth rate of +0.7% per month and Japan experienced a decline of -4.4% per month.



Source: IndexBox Market Intelligence Platform

Comments

Post a Comment

Popular posts from this blog

China's Import of Diethanolamine Decreases Slightly to $4.8 Million in June 2023

Image
China Diethanolamine Imports In June 2023, China imported approximately 5.5K tons of diethanolamine and its salts, marking a 14.3% decline compared to the previous month. Overall, imports showed a relatively steady trend. The highest growth rate occurred in May 2023, with a 475% month-to-month increase. In terms of value, diethanolamine imports in June 2023 reached $4.8M according to IndexBox estimates. Imports continued to contract during the review period. The most rapid growth rate occurred in May 2023, with a 486% increase compared to the previous month. Imports by Country In June 2023, Saudi Arabia was the largest supplier of diethanolamine to China, accounting for 72% of total imports with 4K tons. Malaysia, the second-largest supplier, only provided 552 tons, a sevenfold difference compared to Saudi Arabia. Between June 2022 and June 2023, the average monthly growth rate of volume from Saudi Arabia was relatively modest. In terms of value, Saudi Arabia constituted 72% of total i
Read more

Maleic Anhydride Imports in Turkey Experience a Significant 36% Decrease in July 2023, Totaling $4M

Image
In July 2023, the volume of maleic anhydride imports in Turkey declined by 32.1% to 3.9K tons, marking the second consecutive month of decline after three months of growth. However, overall imports showed a noticeable expansion, with the most rapid growth recorded in August 2022 at a 140% increase compared to the previous month. In terms of value, maleic anhydride imports saw a significant drop to $4M in July 2023, according to estimates from IndexBox. Imports experienced a pronounced shrinkage during the review period, with the most pronounced growth occurring in August 2022, reaching a peak of $12M. From September 2022 to July 2023, import growth remained at a slightly lower figure. Russia, China, and South Korea were the main suppliers of maleic anhydride imports to Turkey, accounting for a combined 91% share of total imports. During the period from July 2022 to July 2023, Russia experienced the highest growth rate in terms of volume, with a CAGR of +24.0%, while other leading sup
Read more

Top Countries for Importing Chocolate and Confectionery Products Worldwide

Image
Chocolate and confectionery products have always been beloved treats across the globe due to their delicious flavors and indulgent qualities. As a result, the chocolate and confectionery industry has become a thriving sector, with many countries involved in the import and export of these delightful treats. In this article, we will discuss the leading import markets for chocolate and confectionery products worldwide, supported by data and statistics from the IndexBox market report. 1. United States The United States holds the top spot as the largest import market for chocolate and confectionery products with an impressive import value of $10.366 billion in 2022. The American population's deep love for sweets makes it a highly sought-after destination for confectionery imports. With a wide range of options available, from artisanal chocolates to iconic candy brands, the U.S. market caters to the diverse preferences of chocolate and confectionery enthusiasts. The country's large c
Read more