Iron ore prices slightly reduced in the Chinese spot market were mitigated, in FOB terms, by lower ocean freight rates, in effect maintaining Brazilian iron ore prices from levels seen last week.
Sinter feed fines of 65 percent iron contents remain traded for export from Brazil at $67/mt, the equivalent lumps $89/mt and blast furnace grade pellets at $125/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices remain $61/mt for sinter feed fines, $83/mt for lumps and $119/mt for blast furnace grade pellets, ex-works, no taxes included.
Preliminary indications from the country’s customs authorities point to a decline, in September, from the combined iron ore and pellets exports of 35.6 million mt in August.