A small increase in iron ore prices in the Chinese spot market from last week was impaired by higher ocean freight rates, negatively affecting FOB prices in Brazil as exporters aimed to offer attractive deals.
Prices declined on average by $1/mt, with sinter feed fines of 65 percent iron contents now traded for export at $57/mt, lumps at $84/mt and blast furnace grade pellets at $101/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $51/mt for sinter feed fines, $78/mt for lumps and $95/mt for blast furnace grade pellets, ex-works, no taxes included.
In September, Brazil exported 29.070 million mt of iron ore (pellets excluded), 7.9 percent less than in August, while the exports of pellets increased by 12 percent to 2.863 million mt.
Preliminary figures from the country’s customs authorities point to an iron ore export tonnage increase of more than 5 percent in October compared to September.
