With lower prices in the Chinese spot market, coupled with stable ocean freight rates, iron ore prices on an FOB basis decreased in Brazil by an average of $2/mt on a weekly basis.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $61/mt, the equivalent lumps at $72/mt and blast furnace grade pellets at $119/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $55/mt for sinter feed fines, $66/mt for lumps and $113/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary indications by the country’s customs authorities point to a 7 percent reduction in April from the 30 million mt of combined iron ore and pellets exported from Brazil in March.