Peruvian iron ore export prices recover in June after Covid lockdown

Peruvian iron ore export prices recover in June after Covid lockdown

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Peruvian iron ore export prices in June reached the highest level so far in the year, local central bank, BCRP, said.

Peru exported no iron ore in April and May, due to Covid-19. Peru was on a nation-wide lockdown from March 16 until the end of June. Industrial sectors started resuming output gradually from mid-May.

BCRP said Peruvian iron ore export prices in June reached FOB $84.7/mt, same as in June 2019. Peruvian iron ore export volumes in June totaled 300,000 mt, reflecting still-weak inventories.

Peru’s key iron ore producer, Shougang Hierro Peru, produced no iron ore in April and May, as previously reported by SteelOrbis.

Despite zero iron ore production in April, Peru was still able to export 500,000 mt of the commodity, probably using existing inventory.

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