With reduced iron ore prices in the Chinese spot market, coupled with stable sea freight rates, iron ore prices decreased in Brazil by an average of $6/mt on a weekly basis, returning to levels in mid-December 2017.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $66/mt, the equivalent lumps at $79/mt and blast furnace grade pellets at $124/mt, all FOB conditions.
In the Brazilian domestic market, the prices are now $60/mt for sinter feed fines, $73/mt for lumps and $118/mt for blast furnace grade pellets, ex-works, no taxes included.
According to the Brazilian customs authorities, the country’s exports of iron ore (pellets excluded) declined from 27.52 million mt in January to 21.73 million mt in February, while exports of pellets, under the same comparative basis, declined from 2.92 million mt to 2.05 million mt.