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Mining News Pro - World`s second-largest iron ore exporter – Brazil recorded an increase in its monthly iron ore export volumes to 26.73 MnT in Jan’20, as compared to Dec’19 at 24.67 MnT, according to trade statistics released by Brazil customs. On yearly basis, exports dropped 19% as against 33.14 MnT in Jan’19.
According to Mining News Pro - Brazilian exports have increased for the month amid easing concerns from Vale post successive recovery works by the mines. Towards first half of Jan’20, China depicted increased iron ore demand amid restocking ahead of Chinese Lunar New Year holidays.
Vale underwent collapse at its dam at Corrego do Feijao mine in Minas Gerais in Brumadinho, Brazil on 25th Jan’19. The miner later declared force majeure and put to halt various mines and dams.
Average iron ore prices up 8% in Jan’20:
The average price of iron ore exported from Brazil for Jan’20 witnessed 8% rise on a monthly basis to USD 65/MT, as against USD 60.4/MT, FoB Brazil in Dec`19. However, on a yearly basis, the average price of iron ore in Jan’20 increased 26% as compared to Jan’19 price at USD 51.7/MT, FoB Brazil.
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