Iron ore prices decline slightly in Brazil

Iron ore prices have declined for both export and domestic sales in Brazil, reflecting a combination of higher ocean freight costs and lower Chinese domestic steel prices.

Sinter feed fines of 65 percent iron content are currently exported at $42/mt, lumps at $47/mt and pellets at $73/mt, FOB conditions, compared with $45/mt, $49/mt and $75/mt, respectively, last week.

In the domestic market, the products are sold at $37/mt (sinter feed fines), $41/mt (lumps) and $69/mt (pellets), compared with last week’s prices of $39/mt, $43/mt and $71/mt, respectively, CFR, full taxes conditions.

In June, Brazil exported 17.157 million mt of iron ore (pellets excluded), 13.4 percent less than in May, and 1.860 million mt of pellets, a 32 percent decline.