With increased prices in the Chinese spot market, coupled with reduced premium for lumps and pellets, and also reduced ocean freight rates, iron prices in Brazil have followed different patterns according to each product.
Sinter feed fines of 65 percent iron contents are now negotiated at $102/mt, equivalent lumps at $114/mt and blast furnace grade pellets at $129/mt, against respectively $101/mt, $115/mt and $129/mt last week, all CFR China conditions, dry basis.
In the Brazilian domestic market, such prices are now, respectively, $74/mt, $86/mt and $100/mt, comparable with $72/mt, $86/mt and $100/mt last week, ex-works conditions, wet basis, no taxes included.
Preliminary numbers from the local customs authorities indicate that in April, Brazil exported a combined volume of iron ore and pellets of 24 million mt, against 21.7 million mt in March.