Brazilian iron ore prices have increased by an average $6/mt from last week, reflecting increased prices in the Chinese spot market, despite being negatively affected in FOB terms by slightly increased ocean freight rates.
Last week, prices had declined for the first time in nine weeks, but with the increase, prices have now reached levels last seen in March 2017.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $69/mt, lumps at $82/mt and blast furnace grade pellets at $113/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $63/mt for sinter feed fines, $76/mt for lumps and $107/mt for blast furnace grade pellets, ex-works, no taxes included.
Brazilian exports of iron ore (pellets excluded) in July declined from June by 6.5 percent to 29.006 million mt, while the export of pellets declined by 16.8 percent to 2.302 million mt.