Strong Demand From China And Eu Countries Drives Brazilian Iron Ore Exports Up Sharply

Brazilian iron ore exports climbed rapidly in March, up 34 percent year-on-year, due to increased iron ore purchases from China and EU countries.
Due to the impact of natural disasters such as heavy rains and floods, coupled with mining giant Vale’s slow recovery after enduring a dam failure in 2019, superimposed on the impact of the global spread of the new crown pneumonia epidemic, Brazil’s annual iron ore exports in 2020 hit a record low in seven years. Vale expects iron ore production to increase by 8.7% to 350 million tons in 2021 but remains about 10% lower than in 2018.
In addition, China’s steel production grew rapidly in the first quarter of 2021, with China’s total iron ore imports from Brazil rising 27% year-on-year to 17.37 million tons in March.
During the same period, the EU imported 3.03 million tons of iron ore from Brazil, up 55% year-on-year, while Malaysia’s iron ore imports from Brazil also increased approximately threefold year-on-year to 2.59 million tons.

In March, Brazil’s iron ore exports to Japan fell 51% year-on-year to about 620,000 tons. It is understood that in this fiscal year from April 2020 to March 2021, the impact of the new crown pneumonia epidemic, the Japanese automotive industry demand is weak, Japanese steel production is at its lowest level in nearly 50 years. (Yang Yue)
China Metallurgical News (April 23, 2021, page 02, second edition)