With a small reduction of iron ore prices in the Chinese spot market, coupled with a small increase in ocean freight rates, iron ore prices declined in Brazil by an average of $1/mt on a weekly basis.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $61/mt, the equivalent lumps at $73/mt and blast furnace grade pellets at $119/mt, all FOB conditions.
In the Brazilian domestic market, the prices are now $55/mt for sinter feed fines, $67/mt for lumps and $113/mt for blast furnace grade pellets, all ex-works, no taxes included.
In March, iron ore (pellets excluded) exported from Brazil increased by 25 percent from February to 27.13 million mt, while the Brazilian pellet exports increased by 37.4 percent to 2.82 million mt, under the same comparative basis.
China was the main destination of Brazilian iron ore in March(17.645 million mt), while the EU was the main destination of pellets (813,400 mt), followed by Asia (768,000 mt).