The most recent iron ore exports from Brazil indicate that sinter feed fines of 65 percent iron contents are available at $45/mt, lumps at $49/mt and pellets at $75/mt, all FOB conditions, against $43/mt, $47/mt and $73/mt last week, a market source told SteelOrbis.
In his view, the prices reflect the increasing prices of the ore in the Chinese market.
Recent rumors that Vale could reduce production in less competitive mines, while fresh, low cost mining capacity comes on stream, have raised expectations that the current prices could be maintained during the second half of the year.
In the Brazilian domestic market, slabs producers are reportedly paying $38/mt for sinter feed fines, $42/mt for lumps and $70/mt for pellets, all CFR conditions, compared with $36.50/mt, $40.50/mt and $68.50/mt last week, respectively.