With iron ore prices decreasing in the Chinese spot market, coupled with increasing ocean freight rates affecting FOB quotations, iron ore prices in Brazil declined in average by $1/mt from last week.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $61/mt, the equivalent lumps $77/mt and blast furnace grade pellets at $119/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $55/mt for sinter feed fines, $71/mt for lumps and $113/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary figures from the country’s customs authorities point to a decline, in August, from the 36 million mt of combined iron ore and pellets exported from Brazil in July.