With reduced iron ore prices in the Chinese spot market, coupled with stable ocean freight rates, iron ore prices decreased in Brazil by an average of $2/mt on a weekly basis, returning to levels of late November 2017.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $62/mt, the equivalent lumps at $74/mt and blast furnace grade pellets at $120/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $56/mt for sinter feed fines, $68/mt for lumps and $114/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary indications from Brazilian customs authorities point to the country’s exports of iron ore and pellets increasing in March by a two-digit figure, from the 23.8 million mt exported in February.