Brazil´s iron ore export prices in August hit new low in 4 years
(Minews) - According to Brazil’s Development, Industry and Foreign Trade Ministry, the average prices of the country’s iron ore exports in this August were at the same level as 2010.
Brazil, one of the three biggest exporters of iron ore in the world, sold US$66.40/ton in August, which is the lowest price from US$52.3/ton recorded in March 2010.
According the data of the Ministry, the increased supply of iron ore in the international market and a moderate demand in big consumer countries such as China are two of the main factors for this loss of value.
The price of iron ore fell by about 35% so far this year.
Publish date : Sunday 31 August 2014 00:02
Story Code: 13112
