Brazilian iron ore exports ‘normal’ despite Covid-19 rise, Usiminas says

Brazilian iron ore exports are not being affected by the increase in Covid-19 cases in the country, despite recent data showing a slowdown, Usiminas’ mining arm director Carlos Rezzonico said in a conference call on Friday May 22.

Mineração Usiminas (Musa), a 70:30 joint venture between Usiminas and Japanese group Sumitomo Corp, has been operating normally during the pandemic, the executive told analysts and investors in Usiminas’ first-quarter earnings conference call.
Musa was aiming to take full advantage of resilient iron ore prices in the seaborne market, Rezzonico added.

“At least at Sudeste port [in the southeastern state of Rio de Janeiro, from which Usiminas exports iron ore] we had no problems,” he said. “You see a fluctuation in volumes,...

Published

Renato Rostás

May 22, 2020

19:03 GMT

São Paulo