Daily Steel News - 16 Mar 09

Brazil's iron ore exports drop in January
Brazil exported 17.515 million tons of iron ore in January, dropping by 28.6 percent compared to the same period of last year. China was the biggest importer of iron ore from Brazil at 6.446 million tons, down by 25.7 percent year-on-year. Switzerland’s iron ore shipments from Brazil totaled 4.301 million tons, up by 29 times compared to the same period of last year. Besides, Japan occupied 2.042 million tons, Korea 1.413 million tons, and Germany 906,000 tons.

Europe drops rebar export price to Africa
In order to compete with the Turkish mills, EU had no choice but to cut the rebar price for April shipments to US$400-420/ton FOB, down by US$30/ton on the previous price. Thanks to the strong demand, currently, North Africa and West Africa is the only active market, not like the other areas shocked by the global financial crisis.