Collapse of Vale’s waste dam has limited impact on Brazilian iron ore prices

Tuesday, 29 January 2019 22:09:16 (GMT+3)   |   Sao Paulo

Local analysts tell SteelOrbis that the collapse of Vale’s iron ore waste dam late last week will impact iron ore prices in the international market over the next weeks, but not to a large extent, as the affected mine and its facilities were responsible for around 2.5 percent of the iron ore produced by the company.

For now, Brazilian iron ore prices have increased on average $3/mt week-on-week. In the export market, sinter feed fines of 65 percent iron contents are now estimated to be traded for export from Brazil at $62/mt, the equivalent lumps $85/mt and blast furnace grade pellets at $130/mt, FOB conditions.

In the Brazilian domestic market, for equivalent ores, the prices are $56/mt for sinter feed fines, $79/mt for lumps and $124/mt for blast furnace grade pellets, ex-works, no taxes included.

Preliminary indications point to a decrease, in January, from the 33.2 million mt of combined iron ore and pellets exported by the country in December.

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