Brazilian iron ore prices show small increase week-on-week

Tuesday, 07 April 2020 22:28:11 (GMT+3)   |   Sao Paulo
       

With slightly increased iron ore prices in the Chinese spot market, coupled with stable premium for pellets and lumps and stable ocean freight rates, prices for Brazilian iron ore products have increased on average by $1/mt on a weekly basis.

Sinter feed fines of 65 percent iron contents are now negotiated at $99/mt, equivalent lumps at $118/mt and equivalent blast furnace grade pellets at $128/mt, against respectively $98/mt, $117/mt and $127/mt last week, all CFR China conditions, dry basis.

In the Brazilian domestic market, such prices are now, respectively, $73/mt, $92/mt and $102/mt, comparable with $72/mt, $91/mt and $101/mt last week, ex-works conditions, wet basis, no taxes included.

In March, Brazil exported 19.84 million mt of iron ore (pellets excluded) and 1.87 million mt of pellets, against respectively 21.05 million mt and 941,100 mt in February. Asian countries were the most important destination for the iron ore (16,20 million mt, of which 13.48 million mt to China), followed by the EU (1.85 million mt) and Bahrain (1.03 million mt).

For pellets, the main destinations were also Asian countries (934,200 mt, of which 500,000 mt to China), Egypt (443,100 mt), the US (183,100 mt) and Argentina (180,500 mt).


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