Reflecting a sharp reduction of iron ore prices in the Chinese spot market, the price of the ore in Brazil declined by an estimated $6/mt in one week; a small reduction on average sea freight rates was also observed.
Sinter feed fines of 65 percent iron contents are now being traded for export from Brazil at $61/mt, lumps at $64/mt and blast furnace grade pellets at $106/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $56/mt for sinter feed fines, $58/mt for lumps and $101/mt for blast furnace grade pellets, ex-works, no taxes included.
Meanwhile, the Brazilian ministry of industry, foreign trade and services, MDIC, unveiled the country’s iron ore exports in March: pellets excluded, iron ore exports increased by 41 percent from February to 33.177 million mt, shipments to China increased by 52 percent to 20.208 million mt.
Exports of pellets increased by 46 percent to 3.218 million mt from February to March.