Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
Brazil’s mining sector posted a total revenue of 54.6 billion reais ($10.79 billion) in the first quarter, down 3% compared to the same period last year, according to data released on Wednesday by industry group Ibram.
The segment’s exports totaled 78.5 million tonnes between January and March, it said, up 4.2% from the same period of 2022, while iron ore shipments rose 4.3% to 75.2 million tonnes.
($1 = 5.0590 reais)
(By Marta Nogueira; Editing by Sarah Morland)
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