Slightly increased prices in the Chinese iron ore spot market were negatively affected, in FOB terms, by increased ocean freight rates, which resulted in stable Brazilian iron ore prices on a weekly basis.
Sinter feed fines of 65 percent iron contents remain traded for export from Brazil at $61/mt, the equivalent lumps at $72/mt, and blast furnace grade pellets at $119/mt, all FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices remain $55/mt for sinter feed fines, $66/mt for lumps, and $113/mt for blast furnace grade pellets, ex-works, no taxes included.
Fresh numbers from the country’s ministry of industry, foreign trade and services, MDIC, indicate that in April Brazil exported 27.88 million mt of iron ore (pellets excluded), 14 percent less than in March. The main destinations were 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).