Brazilian iron ore prices decline for the second consecutive week

Tuesday, 16 July 2019 22:49:04 (GMT+3)   |   Sao Paulo
       

Iron ore prices in Brazil have declined by an estimated $1/mt from last week, reflecting higher ocean freight rates, which have negatively affected FOB quotations despite a small price increase for iron ore in the Chinese spot market.

Sinter feed fines of 65 percent iron contents are now estimated to be traded for export from Brazil at $96/mt, the equivalent lumps at $121/mt and blast furnace grade pellets at $163/mt, all FOB conditions.

In the Brazilian domestic market, for equivalent ores, the prices are $90/mt for sinter feed fines, $115/mt for lumps and $157/mt for blast furnace grade pellets, ex-works, no taxes included.

Preliminary indications by the country’s customs authorities indicate that the combined volume of iron ore and pellet exports in July are declining from the 29.40 million mt in June.


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