With a combination of higher prices in the Chinese spot market and reduced ocean freight rates for the benefit of FOB quotations, iron ore prices in Brazil have increased in average by $5/mt from last week, for a total increase of $15/mt over the last three weeks, returning to levels of February 2017.
Sinter feed fines of 65 percent iron contents are estimated to be traded for export from Brazil at $86/mt, the equivalent lumps at $110/mt and blast furnace grade pellets at $152/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $80/mt for sinter feed fines, $104/mt for lumps and $146/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary indications by the Brazilian customs authorities point to a sharp reduction in April from the 22.18 million mt of combined iron ore and pellets exported in March.