Iron ore exports from Brazil, pellets excluded, fetched 26.40 million mt in June, the highest volume so far in the year, at an average FOB price of $31/mt, 15 percent more than in May.
Such price is not necessarily representative of market conditions, due to the different quotations of the ore, when it leaves the Brazilian port and when it arrives at the destination.
The figures by the country’s ministry of development, industry and foreign trade, MDIC, indicate that pellets exports also reached the highest volume in the year, 5.62 million mt, 39 percent more than in May, while the average FOB price went down to $71/mt from the $73/mt of May.
Asia was the top destination of the iron ore in June, up 16 percent to 20.60 million mt, at an average FOB price 17 percent higher, $31/mt, of which 14.20 million mt to China at $31/mt.
Other destinations were Europe (3.98 million mt at $30/mt), the Middle East (1.36 million mt at $34/mt) and Latin America (463,000 mt at $29/mt), all FOB conditions.
Asia was also the main destination of the pellets, 2.29 million mt at $69/mt, of which 1.21 million mt shipped to China at $73/mt, while 1.51 million mt went to the EU at $66/mt, and 872,000 mt went to the Middle East at $77/mt, all FOB conditions.
Other destinations of the pellets were Africa (342,100 mt at $75/mt), the US (240,300 mt at $98/mt), Latin America (203,000 mt at $73/mt) and Trinidad & Tobago (167,300 mt at $72/mt), all FOB conditions.
According to a major slab producer in Brazil, Vale is currently selling its sinter feed fines in the domestic market at $35/mt, CFR no taxes included, and pellets at $67/mt, under the same conditions.