Despite a small increase in ocean freight rates that could lead to dealmaking within FOB prices, Brazilian iron ore prices increased in average by $1/mt from last week, reflecting the higher prices in the Chinese spot market.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $65/mt, lumps at $79/mt and blast furnace grade pellets at $109/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $59/mt for sinter feed fines, $73/mt for lumps and $103/mt for blast furnace grade pellets, ex-works, no taxes included.
According to new figures by the country’s ministry of industry, foreign trade and services, MDIC, Brazilian exports of iron ore (pellets excluded) in July declined from June by 6.5 percent to 29.006 million mt, while the export of pellets declined by 16.8 percent to 2.302 million mt.
The main destination was Asia (22.847 million mt, of which 18.032 million mt to China), followed by the EU (4.504 million mt), the Middle East (1.143 million mt), Latin America (339,100 mt) and Turkey (172,500 mt).
The destinations for pellet exports were Asia (813,300 mt), the EU (600,200 mt), Africa (434,000 mt) and the US (277,700 mt).