With iron ore prices increased in the Chinese spot market and stable ocean freight rates, iron ore prices in Brazil increased on average by $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 $73/mt and blast furnace grade pellets at $119/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $55/mt for sinter feed fines, $67/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 10 percent reduction, in June, from the 39 million mt of combined iron ore and pellets exported from Brazil in May.