A small reduction in ocean freight rates was not sufficient to compensate for lower iron ore prices in the Chinese spot market, and as a result, iron ore FOB prices in Brazil declined on average by $2/mt on a weekly basis.
Sinter feed fines of 65 percent iron contents are now traded for export from Brazil at $57/mt, lumps at $85/mt and blast furnace grade pellets at $101/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $51/mt for sinter feed fines, $79/mt for lumps and $95/mt for blast furnace grade pellets, ex-works, no taxes included.
Final figures from the Brazilian customs authorities indicate combined iron ore and pellet exports of 31.900 million mt in September, against 34.100 million mt in August.