Brazilian iron ore prices show first decline in weeks

Tuesday, 15 August 2017 23:08:05 (GMT+3)   |   Sao Paulo
       

Reflecting reduced prices in the Chinese spot market, coupled with increased ocean freight rates negatively affecting FOB prices, Brazilian iron ore prices have declined in average by $2/mt in one week, the first decline in nine weeks.

Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $63/mt, lumps at $76/mt and blast furnace grade pellets at $107/mt, FOB conditions.

In the Brazilian domestic market, the prices are now $57/mt for sinter feed fines, $70/mt for lumps and $101/mt for blast furnace grade pellets, ex-works, no taxes included.

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.

Preliminary figures from the country’s customs authorities indicate that combined exports of iron ore and pellets will increase in August by an estimated 5 percent in volume compared to July.


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