Increased prices in the Chinese spot market for lumps and pellet premium, coupled with stable ocean freight rates, resulted in an average increase of $3/mt for Brazilian iron ore products on a weekly basis, comparable with increases of $5/mt and more over recent weeks.
Sinter feed fines prices of 65 percent iron contents are now negotiated at $100/mt, equivalent lumps at $114/mt, and equivalent blast furnace grade pellets at $137/mt, all CFR China conditions, dry basis.
In the Brazilian domestic market, for wet basis, such prices are estimated respectively at $66/mt, $80/mt and $102/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 remain pointing to a sharp decline in November of the combined iron ore and pellets exported in October.
