With an increase of the iron ore price in the Chinese spot market, coupled with a small increase in ocean freight rates, iron ore prices in Brazil increased on average by $1/mt FOB in the last week.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $61/mt, the equivalent lumps at $74/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, $68/mt for lumps and $113/mt for blast furnace grade pellets, ex-works, no taxes included.
According to preliminary figures from the country’s customs authorities, the combined iron ore and pellets exported from Brazil in May have reached 39.0 million mt, against 25.9 million mt in April, a 51 percent increase.