Country Report

Brazil iron ore supply summary

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01 July 2019

Brazil iron ore supply summary

Report summary

Resilient iron ore prices throughout 2018 further encouraged growth from Brazil, the world's second-lowest cost and second-largest exporting country. Largely driven by the ramp-up of the Vale’s low-cost, high-grade S11D project, Brazil’s marketable production grew by almost 2% for the year. Yet, 2019 will see the country's production dropping by at least 12% thanks to Vale's Córrego do Feijão dam burst and all the supply cutbacks announced by the company in the aftermath of the event. Overall, Brazilian miners are set to enjoy lower cash costs in 2019 mostly as a result of seasonally lower oil prices and an even depreciated Brazilian real. These two factors, coupled with the ramp-up of low-cost projects, such as Vale's S11D and Anglo American's Minas-Rio, will mean that the average cash cost for Brazilian producers will drop by over 4% in 2019.

Table of contents

  • Vale
  • CSN
  • Anglo American
  • Samarco
  • Quadrilátero Ferrífero (QF)
  • Carajás Basin
  • Urucum Basin
  • Quadrilátero Ferrífero (QF)
  • Carajás Basin
  • Urucum Basin
  • Cash costs
  • Capital costs

Tables and charts

This report includes 15 images and tables including:

  • Raw Fe grade 2019
  • Product impurities - alumina and silica 2019
  • Attributable marketable reserves by company (at 01/01/2019)
  • Marketable production by product type
  • Costed production by 2019 status
  • Port export capacity
  • Quadrilátero Ferrífero (QF)
  • Carajás Basin
  • Urucum Basin
  • Cash costs by key company
  • 62% Fe adjusted CFR cost curve to North China, Q2 2019
  • Cash costs
  • Capital costs
  • Average operating margin (US$/tonne)
  • Fiscal terms

What's included

This report contains:

  • Document

    Brazil iron ore supply summary

    ZIP 2.40 MB

  • Document

    Brazil_iron_ore_supply_summary.xls

    XLS 343.50 KB

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