Reduced iron ore prices the Chinese spot market, coupled with stable ocean freight rates, resulted in Brazilian ore prices declining on average by $2/mt from last week.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $65/mt, the equivalent lumps $87/mt, and blast furnace grade pellets at $123/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $59/mt for sinter feed fines, $81/mt for lumps, and $117/mt for blast furnace grade pellets, ex-works, no taxes included.
According to local customs authorities, Brazil’s combined iron ore and pellet exports for October reached 37.1 million mt, against 33.9 million mt exported in September.