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The Index Refers to November, Comparing with the Same Period in 2017, Reaching a Total of 19.91 Thousand Tons. Trade Ties Between Brazil and Asian Countries Will Tighten in 2019
Brazilian iron ore exports to China in November totaled 19.91 million tons, a 2% increase compared to the previous year, data from the Ministry of Commerce and Development showed. China accounted for 59% of the 33.96 million tons exported by Brazil in November.
The sales value of shipments to China was US $ 995 million FOB, an increase of 24% compared to November 2017, when the average price rose to US $ 49.93 / mt FOB, from US $ 40.84 / mt FOB.
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Malaysia received the second largest volume of exports, with 2.34 million tons, a 60% increase, while the sales value rose by 85%, to US $ 114 million.
Ironic or not, a good portion of the exports destined for the shipbuilding industry in China and Malaysia are for constructing vessels that will eventually return to Brazil to operate in oil assets in the country due to new local content rules and service fees imposed here.
Brazil is Also the Largest Supplier of Crude Oil to China
Shipments of oil from Brazil to independent refineries in China increased by 81.4% for the month to 1.21 million tons in August. Eight companies in China, including trader Taifeng Hairun, imported Brazilian crude oil from the Lula, Iracema, and Sapinhoa fields in the same month.
Despite a minor trade friction between the Chinese government and some statements from the then president-elect, Jair Messias Bolsonaro in October, everything returned to normal. Even Japanese representatives were at the Port of Açú last week to assess the port complex and evaluate future import business.
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