In addition to higher prices in the Chinese spot market, Brazilian iron ore prices were also positively impacted by a higher lumps and pellet premium, while reduced freight rates have increased prices in FOB terms, resulting in a $5/mt increase for sinter feed fines and a $6/mt increase for pellets and lumps, on a weekly basis.
Sinter feed fines prices of 65 percent iron contents are now negotiated at $97/mt, equivalent lumps at $111/mt and equivalent blast furnace grade pellets at $134/mt, all CFR China conditions, dry basis.
In the Brazilian domestic market, for wet basis, such prices are estimated respectively at $63/mt, $77/mt and $100/mt, ex-works, no taxes included.
In October, Brazil exported 28.40 million mt of iron ore (pellets excluded) and 2.77 million mt of pellets. Preliminary indications from the local customs are pointing to a sharp decline in November of combined iron ore and pellets exports compared to October.
