Reflecting slightly increased prices in the Chinese spot market and increased ocean freight rates, iron ore prices are stable in Brazil for the second week.
Sinter feed fines of 65 percent iron contents remain traded for export from Brazil at $61/mt, the equivalent lumps at $71/mt and blast furnace grade pellets at $118/mt, all FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices remain $55/mt for sinter feed fines, $65/mt for lumps and $113/mt for blast furnace grade pellets, all 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 two-digit increase in May from the combined volume of iron ore and pellets exported in April.