By Contributing Reporter
RIO DE JANEIRO, BRAZIL – Brazil’s iron ore exports rose sharply in the first half of May, data showed on Monday, recovering from a more than seven-year low in April, as higher prices encouraged sellers to close more deals internationally.
Until May 17th, Brazil exported 16.2 million tonnes, according to data from the Foreign Trade Secretariat (Secex), which is part of the Ministry of the Economy. In the whole of April, Brazil exported only 18.3 million tonnes, as the impact of miner Vale’s Brumadinho dam collapse weighed heavily.
The export recovery comes amid higher iron ore prices. On average in May, the price of iron ore shipped by Brazil was US$64.80 per tonne, compared with US$58.70 in April, according to Secex.