A small price decline in the Chinese spot market, stable premium for lumps and pellets and slightly reduced ocean freight rates resulted in a $1/mt reduction of iron ore export prices from Brazil, following four consecutive weeks when prices have increased by an aggregate of $18/mt.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $136/mt, the equivalent lumps at $144/mt, and the equivalent blast furnace grade pellets at $150/mt, all CFR China conditions, dry basis, against respectively $137/mt, $145/mt and $151/mt last week.
In the Brazilian domestic market, however, reflecting reduced ocean freight rates, those prices have remained stable at $111/mt, $118/mt and $124/mt, respectively, dry basis ex-works, no taxes included.
With low volumes exported during the third week of August, indications are now pointing to a reduced volume for the whole month when compared to the 35 million mt of combined iron ore and pellets exported in July.