The last indications of FOB iron ore export prices from Brazil show small gains, resulting from stable freight rates and a small increase in the Chinese market.
Sinter feed fines (65 percent iron content) are now exported at $43.50/mt, lumps at $48/mt and pellets at $74.50/mt, FOB conditions, reflecting an average increase of $1.50/mt from prices last week.
A source from a major iron ore exporter mentioned that although there is a high level of speculation in the day-to-day iron ore market in China, moving prices up and down on a daily basis, the fact is that iron ore prices in China have increased by almost 30 percent in 2016, and this cannot be ascribed to speculation, in his view.
In the Brazilian domestic market, iron ore prices are reportedly sold at $39/mt (sinter feed fines), $43/mt (lumps) and $71/mt (pellets), FOB conditions, compared respectively with $37/mt, $41/mt and $69/mt last week.