After four consecutive weeks leading to an accumulated increase of $10/mt, iron ore prices in Brazil have decreased week-on-week on average by $5/mt, reflecting lower quotations of the product in the Chinese spot market, coupled with stable ocean freight rates, neutral on FOB terms.
Sinter feed fines of 65 percent iron contents are now estimated to be traded for export from Brazil at $65/mt, the equivalent lumps at $75/mt and blast furnace grade pellets at $126/mt, all FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $59/mt for sinter feed fines, $69/mt for lumps and $120/mt for blast furnace grade pellets, ex-works, no taxes included.
With the most recent release of export data from the Brazilian customs, the country’s combined exports of iron ore and pellets in September are pointing to a stable volume from the 28.3 million mt exported in August.