Reflecting a decline of sinter feed fines prices in the Chinese spot market, coupled with reduced ocean freight rates and higher premium for lumps, iron ore prices in Brazil have for the second week showed divergent trends.
Sinter feed fines prices of 65 percent iron contents have declined by $3/mt to $91/mt, equivalent lumps prices were stable at $103/mt, and equivalent blast furnace grade pellets prices have declined by $2/mt to $127/mt, all CFR China conditions, dry basis.
In the Brazilian domestic market, for wet basis, prices for sinter feed fines are estimated at $55/mt, with lumps at $68/mt and blast furnace grade pellets at $91/mt, ex-works, no taxes included.
In October, Brazil exported 28.40 million mt of iron ore (pellets excluded), against 25.39 million mt in September. Asia was the main destination (23.42 million mt, of which 18.35 million mt destined to China), followed by Europe (3.00 million mt) and the Middle East (1.85 million mt), while small volumes were shipped to South America.
Pellet exports reached 2.77 million mt in October, against 1.75 million mt in September, destined to Asia (1.69 million mt), the Middle East (467,000 mt), the US (231,000 mt), and Europe (212,400 mt), with small volumes shipped to Latin American countries.
