With reduced prices in the Chinese spot market, partially compensated in FOB terms by lower ocean freight rates, iron ore prices in Brazil declined on average by $1/mt on weekly basis. However, the premium for lumps increased by $1/mt over the week, so those prices remained the same.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $60/mt, the equivalent lumps at $71/mt and blast furnace grade pellets at $118/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $54/mt for sinter feed fines, $65/mt for lumps and $112/mt for blast furnace grade pellets, ex-works, no taxes included.
In April, Brazil exported iron ore (pellets excluded) chiefly to Asia (17.06 million mt, of which 13.26 million mt to China), followed by Europe (3.70 million mt) and the Middle East (1.65 million mt).
Pellet exports in April reached 2.77 million mt, destined chiefly to Africa (703,100 mt), Asia (693,200 mt), Europe (627,700 mt) and the US (341,700 mt).
Preliminary figures from the country’s customs authorities point to a substantial two-digit percentage increase in May from the combined volume of iron ore and pellets exported in April.