A small reduction of iron ore prices the Chinese spot market, coupled with a small increase of ocean freight rates, negatively affecting FOB quotations, resulted in Brazilian ore prices dropping by $1/mt from last week.
Regardless of this week’s reduction, over the last five weeks the prices have remained under the same relative range, with variations of less than $2/mt, when considering the sinter feed of 65 percent iron contents as reference.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $65/mt, the equivalent lumps $87/mt and blast furnace grade pellets at $123/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $59/mt for sinter feed fines, $81/mt for lumps and $117/mt for blast furnace grade pellets, ex-works, no taxes included.