Brazilian iron ore prices have dropped by an estimated $15/mt average from last week, reflecting similar movement within the Chinese iron ore spot market.
Sinter feed fines of 65 percent iron contents are now being traded, for export at $175/mt, the equivalent lumps at $182/mt and blast furnace grade pellets at $196/mt, all CFR China conditions, dry basis.
In the Brazilian domestic market, prices are now being heard at $154/mt, $162/mt and $175/mt, respectively, ex-works, dry basis, no taxes included.
According to local sources, the restart of operations at the pellet producer Samarco did not immediately affect the price of the product, in relation to the equivalent sinter feed fines, as the additional production, still in the ramp-up process, was already being considered in the current price point.
Current export tonnage expectations for the month of December still point to an increase, from the 29.15 million mt of combined iron ore and iron ore pellets exported from Brazil in November.