With very small fluctuations in the iron ore price in the Chinese spot market, coupled with minimal differences in ocean freight rates, iron ore prices in Brazil are stable this week compared to last week.
Sinter feed fines of 65 percent iron contents remain traded for export from Brazil at $60/mt, the equivalent lumps at $71/mt and blast furnace grade pellets at $118/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices remain $54/mt for sinter feed fines, $65/mt for lumps and $112/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary figures from the country’s customs authorities point to a substantial two-digit percentage increase in May from the 25.9 million mt of combined iron ore and pellets exported in April.