Price of Brazilian iron ore sees sharp decrease in one week

Tuesday, 09 May 2017 23:31:44 (GMT+3)   |   Sao Paulo
       

With a downturn in the prices of iron ore in the Chinese spot market, coupled with stable ocean freight rates, the price of iron ore in Brazil decreased by around $9/mt in one week.
 
Sinter feed fines of 65 percent iron contents are now traded for export at $48/mt, lumps at $51/mt and blast furnace grade pellets at $93/mt, all FOB conditions.
 
In the Brazilian domestic market, the prices are now $42/mt for sinter feed fines, $45/mt for lumps and $87/mt for blast furnace grade pellets, ex-works, no taxes included.
 
With the recent reduction, iron ore prices in Brazil have returned to the levels of October 2016.
According to analysts, the iron ore option market in the Dalian Commodities Exchange points to the continuation of a downtrend in international iron ore prices.

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