With a small increase of iron ore prices in the Chinese spot market, coupled with lower ocean freight rates for the benefit of FOB quotations, iron ore prices in Brazil have increased in average by $2/mt on a weekly basis.
Sinter feed fines of 65 percent iron contents are now estimated to be traded for export from Brazil at $71/mt, the equivalent lumps $92/mt and blast furnace grade pellets at $138/mt, FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $65/mt for sinter feed fines, $86/mt for lumps and $132/mt for blast furnace grade pellets, ex-works, no taxes included.
In February, the Brazilian combined exports of iron ore and pellets reached 28.9 million mt, compared to 33.2 million mt in January.