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12. FINANCIAL INSTRUMENTS (Details 6) - 12 months ended Dec. 31, 2017
R$ in Thousands, $ in Thousands
BRL (R$)
USD ($)
R$ / $
Disclosure of detailed information about hedged items [line items]    
Designated amounts | $   $ 1,566,000
Amortized part | $   $ (248,333)
Effect on Result | R$ [1] R$ 92,140  
Impact on Shareholders' equity | R$ R$ (395,524)  
Hedging relationship 1    
Disclosure of detailed information about hedged items [line items]    
Designation date 11/3/2014  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange- R$ vs. US$ spot rate  
Hedged period October 2016 - September 2019  
Exchange rate on designation | R$ / $   2.4442
Designated amounts | $   $ 500,000
Amortized part | $   $ (133,334)
Effect on Result | R$ [1] R$ 53,203  
Impact on Shareholders' equity | R$ R$ (316,726)  
Hedging relationship 2    
Disclosure of detailed information about hedged items [line items]    
Designation date 12/1/2014  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2015 - February 2019  
Exchange rate on designation | R$ / $   2.5601
Designated amounts | $   $ 175,000
Amortized part | $   $ (114,999)
Effect on Result | R$ [1] R$ 38,937  
Impact on Shareholders' equity | R$ R$ (44,880)  
Hedging relationship 3    
Disclosure of detailed information about hedged items [line items]    
Designation date 12/18/2014  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period May 2020  
Exchange rate on designation | R$ / $   2.6781
Designated amounts | $   $ 100,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ (62,990)  
Hedging relationship 4    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/21/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period July 2019 - March 2021  
Exchange rate on designation | R$ / $   3.1813
Designated amounts | $   $ 60,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ (7,602)  
Hedging relationship 5    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/23/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period July 2019 - March 2021  
Exchange rate on designation | R$ / $   3.285
Designated amounts | $   $ 100,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ (2,300)  
Hedging relationship 6    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/23/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2018 - October 2022  
Exchange rate on designation | R$ / $   3.285
Designated amounts | $   $ 30,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ (690)  
Hedging relationship 7    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/24/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2018 - October 2022  
Exchange rate on designation | R$ / $   3.3254
Designated amounts | $   $ 100,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ 1,740  
Hedging relationship 8    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/27/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2018 - October 2022  
Exchange rate on designation | R$ / $   3.3557
Designated amounts | $   $ 25,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ 1,193  
Hedging relationship 9    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/27/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2018 - October 2022  
Exchange rate on designation | R$ / $   3.3557
Designated amounts | $   $ 70,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ 3,339  
Hedging relationship 10    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/27/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2018 - October 2022  
Exchange rate on designation | R$ / $   3.3557
Designated amounts | $   $ 30,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ 1,431  
Hedging relationship 11    
Disclosure of detailed information about hedged items [line items]    
Designation date 07/28/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2018 - October 2022  
Exchange rate on designation | R$ / $   3.3815
Designated amounts | $   $ 30,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ 2,205  
Hedging relationship 12    
Disclosure of detailed information about hedged items [line items]    
Designation date 8/1/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period [2] -  
Exchange rate on designation | R$ / $   3.394
Designated amounts | $   $ (9,000)
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ (774)  
Hedging relationship 13    
Disclosure of detailed information about hedged items [line items]    
Designation date 8/3/2015  
Hedging instrument Export prepayments in US$ to third parties  
Hedged item Part of the highly probable future monthly iron ore exports  
Type of hedged risk Foreign exchange - R$ vs. US$ spot rate  
Hedged period October 2018 - October 2022  
Exchange rate on designation | R$ / $   3.394
Designated amounts | $   $ 355,000
Amortized part | $  
Effect on Result | R$ [1]  
Impact on Shareholders' equity | R$ R$ 30,530  
[1] The effect on the result was recorded in other operating expenses.
[2] During the designation on August 2015, we reviewed the future export projections and identified that the amount of US$ 9 million designated previously were not highly probable due to Platt's quotation reduction. Therefore, the hedge relationship was discontinued from August 2015. The exchange rate of the effective period remains recorded in Stockholders' Equity until the time of debt settlement, in October 2022.