From a 5-year weekly record, Brazil iron ore exports relaxed -42% WoW

After reaching last week a new 5-year record at 9.7Mt/wk, weekly iron ore exports from Brazil relaxed -42% WoW to 5.6Mt/wk, the slowest week on record since Feb’23!

Brazil Iron Ore Exports Oct. 2023

In parallel, congestion queue at Brazilian iron ore ports rose due to port maintenance and iron ore prices CFR China (62%-Fe, excl. VAT) briefly traded under 110$/t on Monday. From 17-October, mining group Vale S.A. is set to proceed with the progressive release of its 3Q’23 results before updating investors with production & sales guidance for the year 2023 on coming 27-October.

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