Deliveries reached a record 341.1 million tons

Brazil increased its iron ore exports by 5.7% in January-October 2025 compared to the same period in 2024, reaching 341.1 million tons, a record result for the first ten months of the year. This is according to data from the Ministry of Development, Industry, and Foreign Trade (MDIC), as reported by Kallanish.

In October, shipments totaled 40.7 million tons, up 11.8% from September and 15.6% year-on-year. This was the second-highest monthly figure in 2025 after July, when exports reached 40.9 million tons.

Despite the growth in physical volumes, the value of exports fell by 7.7% y/y to $23.4 billion FOB. The decline in revenue was due to lower average global ore prices. At the same time, sales in October were estimated at $2.91 billion, up 15.3% month-on-month and 29.5% year-on-year.

China remains the main buyer of Brazilian ore, accounting for 67.7% or 20.07 million tons in October. It is followed by South Korea (5.1%; 1.64 million tons), Malaysia (4%; 1.55 million tons), and Japan (3.5%; 1.25 million tons).

The main regions of shipment remain Pará and Minas Gerais, which accounted for 16.58 million tons and 15.55 million tons of exports, respectively.

According to analysts’ estimates, the stable performance of Vale and other major producers, as well as the recovery in demand from China, are supporting strong export growth, which could lead to record results for Brazil for the year as a whole.

It should be recalled that in 2024, global iron ore exports grew by 2% year-on-year to approximately 1.6 billion tons. Australia remains the largest exporter of this raw material (866 million tons, +1.4% y/y). Brazil ranks second (390 million tons, +2.6% year-on-year) and South Africa third (61 million tons, +3.4% year-on-year).

Source: GMK CENTER