Brazilian iron ore prices have increased on weekly basis, ending seven consecutive weeks of decline.
The increase, in average of $2/mt, reflects higher iron ore prices in the Chinese spot market, coupled with FOB prices benefiting from stable ocean freight rates.
Sinter feed fines of 65 percent iron contents are now traded for export at $58/mt, lumps at $85/mt and blast furnace grade pellets at $102/mt, FOB conditions.
In the Brazilian domestic market, the prices are now $52/mt for sinter feed fines, $79/mt for lumps and $96/mt for blast furnace grade pellets, ex-works, no taxes included.
A source linked to an iron ore miner in Brazil told SteelOrbis that China is giving priority to imports of high grade and low contaminants ores, which in his view is hindering small miners from participation in the export market, now almost entirely restricted in Brazil to Vale and CSN.
The source added that the high premium currently ascribed to lumps and pellets is also a reflection of the preference of iron ore products offering a cleaner operation of blast furnaces.