With reduced iron ore price in the Chinese spot market, coupled with reduced premium for pellets, higher premium for lumps and reduced sea freight rates, the prices for the Brazilian iron ore products have decreased on a weekly basis at different rates.
Sinter feed fines of 65 percent iron contents are now negotiated at $102/mt, equivalent lumps at $123mt, and equivalent blast furnace grade pellets at $138/mt, against $106/mt, $125/mt and $138/mt last week, respectively, all CFR China conditions, dry basis.
In the Brazilian domestic market, such prices are now respectively $76/mt, $96/mt and $105/mt, against $78/mt, $98mt and $110/mt, last week, ex-works conditions, wet basis, no taxes included.
With improved numbers unveiled from customs authorities for the Brazilian exports, the combined iron ore and pellets exports for the total of March are expected to reach an estimated 18 million mt, against 22.0 million mt in February. One week ago, expectations were for 16 million mt.