The price of the 65 percent iron sinter feed fines of Brazil has reached $255/mt today, against $250/mt one week ago, CFR China conditions. Under the same conditions, the price of blast furnace grade pellets has reached $320/mt, against $314/mt one week ago, same conditions.
According to sources, the increase was achieved despite restrictions imposed by Chinese authorities on high emissions operations, such as sintering and blast furnace, during a short period starting on June 29. Instead, the increase reflects the long-term fundamentals, such as the supply/demand balance and the level of iron ore stocks at ports and at steel producers.
In the Brazilian domestic market, the prices are $220/mt for the high-grade ore and $285/mt for pellets, ex-works, no taxes included.
Preliminary figures from the Brazilian customs are pointing to a reduction in June from the 26.66 million mt of combined iron ore and pellets exported from the country in May.