Due to a combination of reduced prices in the Chinese iron ore spot market and increased ocean freight rates—which often result in exporters adjusting prices instead of passing the freight increases onto customers—the price of iron ore in Brazil declined by an estimated $2/mt from last week.
Sinter feed fines of 65 percent iron contents are now traded for export at $74/mt, lumps at $77/mt and blast furnace grade pellets at $119/mt, FOB conditions.
In the domestic market, the prices are now $68/mt for sinter feed fines, $71/mt for lumps and $113/mt for blast furnace grade pellets, ex-works, no taxes included.
