Following a week oscillating iron ore prices in the Chinese spot market, coupled with roughly stable ocean freight rates and premiums for lumps and pellets, iron ore prices in Brazil have remained stable on a weekly basis.
Sinter feed fines prices of 65 percent iron contents remain negotiated at $105/mt, equivalent lumps at $122/mt and equivalent blast furnace grade pellets at $138/mt, all CFR China conditions, dry basis.
In the Brazilian domestic market, for wet basis, such prices are also stable from last week, respectively at $76/mt, $94/mt and $109/mt, ex-works conditions, no taxes included.
The combined exports of iron ore and pellets from Brazil in January, 26.73 million mt, are set for a decline in February, according to more recent figures from customs. Sources mentioned that the decline reflects both intensive rains in the mining areas during January and the first effects of the Covid-19 outbreak, with reduction of shipments to China.
