With reduced iron ore prices in the Chinese spot market, coupled with a stable premium for pellets, lower premium for lumps, and reduced ocean freight rates, Brazilian iron ore offers have decreased on a weekly basis at different rates.
Sinter feed fines of 65 percent iron contents are now negotiated at $98/mt, equivalent lumps at $117/mt and equivalent blast furnace grade pellets at $127/mt, against respectively $102/mt, $123/mt and $138/mt last week, all CFR China conditions, dry basis.
In the Brazilian domestic market, such prices are now, respectively, $72/mt, $91/mt and $101/mt, comparable with $76/mt, $96/mt and $105/mt last week, ex-works conditions, wet basis, no taxes included.
Numbers from the Brazilian customs authorities are indicating that the combined iron ore and pellet exports for March are expected to reach an estimated 18 million mt, against 22.0 million mt in February.
