Following a combined decline of $28/mt in the first two weeks of August, the price of Brazilian sinter feed fines of 65 percent iron contents has declined by $2/mt from last week, while lower costs for lumps and pellets resulted in a more significant reduction in those prices: down $7/mt and $8/mt week-on-week, respectively.
In addition of reduced prices in the Chinese iron ore spot market, prices were also affected, in FOB terms, by slightly increased ocean freight rates.
Sinter feed fines of 65 percent iron contents are now estimated to be traded for export from Brazil at $65/mt, the equivalent lumps at $85/mt and blast furnace grade pellets at $126/mt, all FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $59/mt for sinter feed fines (down $2/mt week-on-week), $79/mt for lumps (down $7/mt) and $120/mt for blast furnace grade pellets (down $8/mt), all ex-works, no taxes included.