Brazil iron ore exports boom!

The market still hasn’t realised it but it’s over, via Reuters:

Brazil’s iron ore exports rose 16.6% in July from the previous month to 34.3 million tonnes, the highest level in nine months, as Vale resumed production at its largest mine in the state of Minas Gerais, official data showed on Thursday.

July’s exports were the highest since October 2018, when Brazilian foreign sales of iron ore reached 37.2 million tonnes, according to data compiled by the Foreign Trade Secretariat (Secex).

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