With slightly increased prices in the Chinese spot market, coupled with stable ocean freight rates and the same premium for lumps and pellets, Brazilian iron ore prices have increased in average by $1/mt from last week.
Sinter feed fines prices of 65 percent iron contents are now negotiated at $105/mt, equivalent lumps at $119/mt and equivalent blast furnace grade pellets at $142/mt, all CFR China conditions, dry basis.
In the Brazilian domestic market, for wet basis, such prices remained stable week-on-week, respectively at $69/mt, $83/mt and 106/mt, ex-works, no taxes included.
In November, Brazil exported 25.91 million mt of iron ore (pellets excluded) and 1.34 million mt of pellets. The main destinations of the iron ore were Asia (21.90 million mt, of which 17.06 million mt to China), the EU (2.19 million mt), the Middle East (1.12 million mt) and Turkey (409,700 mt).
For pellets, the destinations were China (338,900 mt), the EU (253,000 mt), the US (225,200 mt), Trinidad and Tobago (155,600 mt), Libya (150,000 mt) and Japan (119,300 mt), while small volumes were shipped to Algeria and Argentina.
