Sharp seasonal slow-down for Brazil iron ore exports in early Jan’24!

Despite ending 2023 at 5-year high levels and posting a new record at 10.1Mt/wk on the week connecting 2023 to 2024…

Brazil Iron Ore Exports January 2024

… weekly iron ore exports from Brazil relaxed -59% WoW to 4.7Mt/wk last week, down to the slowest week on record in almost a full calendar year. Invincible seasonality? Iron ore mining and land logistics have suffered from recent abundant rainfalls in Brazil and led port throughput to reset from high Q4 down to lower Q1 levels.

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