After four consecutive weeks of consistent increases, the price of Brazilian sinter feed fines of 65 percent iron contents has declined by an estimated $9/mt from last week, reflecting lower prices in the Chinese spot market, coupled with higher ocean freight rates that have negatively affected quotations in FOB terms.
Over the period, the premium for lumps has increased, while the premium for pellets has decreased, both in relation to sinter feed fines.
Sinter feed fines of 65 percent iron contents are now estimated to be traded for export from Brazil at $97/mt, the equivalent lumps at $122/mt and blast furnace grade pellets at $164/mt, all FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $91/mt for sinter feed fines, $116/mt for lumps and $158/mt for blast furnace grade pellets, ex-works, no taxes included.
In June, Brazil exported 28.23 million mt of iron ore (pellets excluded). The main destinations were Asia (23.30 million mt, of which 16.56 million mt to China), The EU (2.65 million mt), the Middle East (1.62 million mt), South America (400,000 mt), and Turkey (200,000 mt).
Pellet exports reached 1.17 million mt, with Africa as main destination (369,000 mt), followed by Asia (328,000 mt), the US (178,000 mt), and the EU (154,000 mt).