The opening in August of the Sudeste port in Itaguaí, in Rio de Janeiro state, with an annual capacity for 50 million tonnes in shipments, is seen boosting exports of iron ore and possibly even leading to increased prices in the local market. The port, managed by the Trafigura trading company’s subsidiary Impala, hopes to attract business from large mining and steel sector companies such as Usiminas, Arcelor Mittal, Ferrous, Gerdau and MMX, which currently use other port facilities to make shipments.  

Port officials say that following an initial R$4 billion investment in the facility they will study expanding its capacity to up to 70 million tonnes annually after 2016. But despite the prospects for increased export capacity brough by the port, industry officials say the outlook for the local iron market may still depend heavily on a recovery of prices in China, the world’s largest consumer of the commodity.