Reduced iron ore prices the Chinese spot market, coupled with slightly higher ocean freight rates, resulted in Brazilian iron ore prices reduced in average by $1/mt from last week, while increased premium for pellets resulted in higher prices for the product.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $64/mt, the equivalent lumps $86/mt and blast furnace grade pellets at $126/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $58/mt for sinter feed fines, $80/mt for lumps and $120/mt for blast furnace grade pellets, ex-works, no taxes included.
In October, Brazil exported 33.88 million mt of iron ore (pellets excluded), against 30.98 million mt in September. The main destinations were Asia (26.02 million mt, of which 19.33 million mt to China), the EU (5.26 million mt), the Middle East (1.82 million mt) and Turkey (426,500 mt).
Pellet exports reached 3.32 million mt, against 2.93 million mt in September, destined to Asia (989,300 mt, of which 454,700 mt to China), the EU (669,600 mt), Africa (507,600 mt), the Middle East (371,800 mt), Argentina (363,700 mt), the US (255,000 mt) and Trinidad and Tobago (161,400 mt).