Iron ore falls, steel products rise in Jan.

Exports of Brazilian goods reached US$7.4bn in January despite a drop in iron ore shipments, according to data from the country's development, industry and foreign trade ministry. Overall, exports in January were up 28% from January 2004, when exports hit US$5.8bn. However, exports fell 20% from December's US$9.2bn total. Shipments of semi-manufactured steel and iron products soared 84% year-on-year to US$263mn in January. Exports of laminated steel plates totaled US$194mn, up 29% from US$150mn in January 2004 but down 5% from US$205mn in December. Aluminum exports were similar, rising 19% year-on-year to US$76mn but falling 16% compared to December. Iron ore shipments suffered the biggest tumble, falling to US$355mn in January from US$440mn in January 2004 and US$417mn in December. "I think it was a question of logistics because iron is regularly supplied to a group of countries in the world and we know that demand on the global market is growing and pushing increases in export volumes and global prices," Ivan Ramalho, Brazil's foreign trade secretary, said in a statement.