With a small increase of the iron ore price in the Chinese spot market, compensated in FOB terms by an also small increase in sea freight rates, iron ore prices in Brazil were stable on a weekly basis.
Sinter feed fines of 65 percent iron contents are traded for export from Brazil at $61/mt, the equivalent lumps at $74/mt and blast furnace grade pellets at $119/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $55/mt for sinter feed fines, $68/mt for lumps and $113/mt for blast furnace grade pellets, ex-works, no taxes included.
In May, Brazil exported 32.18 million mt of iron ore (pellets excluded), 39.3 percent more than in April, while pellets exports increased by 145 percent to 6.80 million mt on the same comparative basis.
The main destinations of the iron ore were Asia (23.64 million mt, of which 20.23 million mt to China), the EU (7.10 million mt), the Middle East (566,800mt) and Turkey (443,700mt), while smaller tonnages were shipped to South America, Mexico and Canada.
For pellets, Egypt was the main destination (3.81 million mt), followed by Asian Countries (1.54 million mt), the EU (560,500mt) and Saudi Arabia (354,400mt), while smaller tonnages were shipped to the Americas.