With higher prices in the Chinese spot market and reduced ocean freight rates, the price of Brazilian iron ore increased on average by $3/mt on a weekly basis, returning to the levels of the first half of September.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $67/mt, the equivalent lumps at $78/mt and blast furnace grade pellets at $112/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $61/mt for sinter feed fines, $72/mt for lumps and $106/mt for blast furnace grade pellets, ex-works, no taxes included.
The market remains positive for the Brazilian high-grade ore, as well as for pellets, products that allow for a cleaner operation in blast furnaces, with the reduction of emissions. Local iron ore miner Vale has recently disclosed that it will reduce the volume of the ore produced, giving preference to quality.
In November, Brazil exported 31.610 million mt of iron ore (pellets excluded), 3.9 percent less than in October, while pellet exports increased by 7.1 percent to 2.541 million mt.