With iron ore prices increasing in the Chinese spot market, coupled with stable ocean freight rates, iron ore prices in Brazil have increased on average by $1/mt from last week. However, due to an increased premium over equivalent sinter feed fines, the lump ore has increased by $7/mt.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $62/mt, the equivalent lumps $84/mt and blast furnace grade pellets at $120/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $56/mt for sinter feed fines, $78/mt for lumps and $114/mt for blast furnace grade pellets, ex-works, no taxes included.
In August, Brazil exported 35.6 million mt of combined iron ore and pellets, against 36.0 million mt of in July.