With reduced iron ore prices in the Chinese spot market, coupled with stable ocean freight rates, iron ore prices in Brazil have declined in average by $2/mt over the week.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $62/mt, the equivalent lumps at $83/mt and blast furnace grade pellets at $120/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $56/mt for sinter feed fines, $77/mt for lumps and $114/mt for blast furnace grade pellets, ex-works, no taxes included.
In July, Brazil exported 32.79 million mt of iron ore (pellets excluded), roughly the same volume of June, while pellets exports fetched 3.21 million mt, a 30 percent increase from June.