With reduced iron ore prices in the Chinese spot market, coupled with stable ocean freight rates, iron ore prices decreased in Brazil by an average of $3/mt on a weekly basis.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $72/mt, the equivalent lumps at $84/mt and blast furnace grade pellets at $130/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $66/mt for sinter feed fines, $78/mt for lumps and $124/mt for blast furnace grade pellets, ex-works, no taxes included.
According to the Brazilian customs authorities, the country’s exports of iron ore (pellets excluded) declined from 27.52 million mt in January to 21.73 million mt in February.
The main destinations were Asia (17.29 million mt, of which 13.54 million mt to China) and the EU (3.01 million mt), while 657,700 mt were shipped to the Middle East and 605,000 mt to Latin America.
Under the same comparative basis, pellet exports declined from 2.92 million mt to 2.05 million mt in February, having the EU (526,400 mt), Africa (522,500 mt) and Asia (451,800 mt) as main destinations, while smaller tonnages were shipped to the US (210,900 mt) and the Middle East (204,400 mt).