Brazil's iron ore exports in the week ending October 2, 2026, reached 8.5967 million tons, representing an increase of 1.8195 million tons or 26.85% compared to the previous week. This increase follows two consecutive weeks of decline. Meanwhile, Australia's iron ore exports decreased by 1.2988 million tons or 6.26% to 19.4645 million tons. In total, global iron ore exports reached 35.9424 million tons, showing a 1.21% increase.
Impact Analysis on the Market
This increase in Brazil's iron ore exports clearly indicates demand pressure in the market. Given the reduction in shipping costs from Brazil to China, which fell from $43.06 to $40.26, this event has contributed to the increase in Brazil's exports. In fact, reports indicate that with the decrease in costs, new shipments from Brazil are on the rise. These shipments are expected to reach the Chinese market by mid-November.
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Price and Market Situation
In international markets, iron ore prices are steadily declining. In the last four sessions, the price of iron ore in the SGX market has decreased from $93.50 to $91.35, equivalent to a 2.30% decrease. This price drop should clearly be taken into account in the domestic market as well. Additionally, received prices have also been affected, with the price of iron ore at 61% grade reaching $92.00 and at 65% grade reaching $110.80.
Considering the market's need to absorb 1.6839 million tons of maintenance losses, and warnings regarding a significant production decrease in early October, it seems that Brazil's supply, alongside holidays, has managed to exert more pressure on the market. It is expected that in the coming weeks, the market will face new challenges that may impact prices.
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