With higher quotations in the Chinese spot market, coupled with stable premium for lumps and pellets and stable ocean freight rates, iron ore export prices in Brazil have increased in average by $5/mt from last week, after having increased by $3/mt the week before.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $127/mt, the equivalent lumps at $135/mt and the equivalent blast furnace grade pellets at $141/mt, all CFR China conditions, dry basis, against respectively $122/mt, $130/mt and $136/mt last week.
Domestic iron ore prices in Brazil have also increased in average by $5/mt from last week, at respectively $103/mt, $111/mt and 117/mt, dry basis, ex-works conditions, no taxes included, comparable with $98/mt, $105/mt and $112/mt last week.
Consolidated numbers from the local customs confirm that in July, Brazil’s combined exports of iron ore and pellets have reached 34.0 million mt, the highest monthly volume since July 2019.