Iron ore prices in Brazil have increased in average by $10/mt from one week ago, reflecting active trading in the seaborne market. The trend is also linked to positive expectations for the world economy unveiled by the World Bank, including perspectives for a 7.9 percent GDP growth in China during 2021, after a 2 percent growth in 2020. China currently accounts for 73 percent of purchases in the seaborne iron ore market.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $184/mt, the equivalent lumps at $195/mt and blast furnace grade pellets at $212/mt, all CFR China conditions, dry basis.
In the Brazilian domestic market, such prices now are respectively $161/mt, $172/mt and $189/mt, ex-works, no taxes included.
Preliminary numbers from the Brazilian customs authorities indicate that in December Brazil has exported a combined volume of iron ore and pellets of 33.16 million mt, comparable to 29.15 million mt exported in November.