After achieving the lowest price level in recent years in March, iron ore (pellets excluded) exported from Brazil fetched $33/mt FOB in April, a figure 13.5 percent lower than the average price of March, according to the country’s ministry of development, industry and foreign trade, MDIC.
In volume, the exports of April went down by 9.1 percent to 23.84 million mt, reflecting exports to Asian countries reduced by 15.2 percent to 17.56mt, of which exports to China reduced by 12.2 percent to 12.14 million mt.
Exports to Europe went up by 22 percent to 4.07 million mt, while exports to the Middle East went up by 1.8 percent to 1.81 million mt.
Conversely, the country’s exports of pellets went up by 7.4 percent to 4.90 million mt, at an average price 9.4 percent lower, $76/mt FOB, pointing to blast furnace grade pellets exported in a FOB price range of $67/mt to $72/mt while DRI grade pellets were exported in the $89/mt to $94/mt FOB range.
The higher volume of pellets exported reflects shipments to China increased by 52 percent to 1.23 million mt, while total export to Asian countries went up by 12 percent to 2.17 million mt, sales to the EU went down by 1.4 percent to 1.56 million mt and sales to the Middle East went up by 26.6 percent to 700,000 mt.
In the Brazilian domestic market, sinter feed fines are sold by Vale at $42/mt, lumps at $55/mt and pellets at $63/mt, all CFR, no taxes included.
A source from a major slab producer told SteelOrbis that such prices are expected to decline for new deals to be closed over the next few days.