… above 100$/t and reverting to a 1-year low of 91.75$/t today. Cumulative exports Brazilian iron ore in 2024 rose +7.5% YoY to 247Mt, faster than the +3.3% YoY increase to 1.1Bt for global seaborne exports. Such performance is outstanding given the lasting crisis of China’s construction sector and the poor steel production margins that have initiated a severe consolidation cycle across the global steel industry.
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