With a reduction of iron ore prices in the Chinese spot market, coupled with increased ocean freight rates, iron ore prices in Brazil declined in average by $2/mt on a weekly basis.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $59/mt, the equivalent lumps at $71/mt and blast furnace grade pellets at $117/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $53/mt for sinter feed fines, $65/mt for lumps and $111/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary indications by the country’s customs authorities point to a 10 percent reduction in June from the 39 million mt of combined iron ore and pellets exported in May.