With higher quotations in the Chinese spot market, coupled with stable premium for lumps and pellets and reduced ocean freight rates, iron ore export prices in Brazil have increased in average by $3/mt from last week.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $122/mt, the equivalent lumps at $130/mt and the equivalent blast furnace grade pellets at $136/mt, all CFR China conditions, dry basis, against respectively $119/mt, $127/mt and $133/mt last week.
With the declining ocean freight rates, positively affecting FOB quotations in Brazil, domestic iron ore prices have increased in average by $5/mt from last week, at respectively $98/mt, $105/mt and $112/mt, dry basis, ex-works conditions, no taxes included, comparable with $93/mt, $100/mt and $107/mt last week.
Preliminary indications from customs remain pointing to a combined export volume of iron ore and pellets in July increasing from the 30.05 million mt exported from Brazil in June. The figures are now indicating such volume reaching around 34 million mt in July.