With slightly reduced iron ore quotations in the Chinese spot market, coupled with a small increase in ocean freight rates that negatively affected quotations in FOB terms, iron ore prices in Brazil declined in average by $1/mt over one week.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $69/mt, the equivalent lumps at $75/mt and blast furnace grade pellets at $127/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $63/mt for sinter feed fines, $69/mt for lumps and $121/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary indications from the Brazilian customs authorities point to a reduction in January from the combined iron ore and pellet exports of 32.8 million mt in December.