Iron ore prices in Brazil have increased week-on-week by $2/mt on average, following an accumulated increase of $8/mt over the last three weeks, still reflecting higher prices in the Chinese spot market and stable ocean freight rates, neutral on FOB quotations.
Sinter feed fines of 65 percent iron contents are now estimated to be traded for export from Brazil at $70/mt, the equivalent lumps at $80/mt and blast furnace grade pellets at $131/mt, all FOB conditions.
In the Brazilian domestic market, for equivalent ores, the prices are $64/mt for sinter feed fines, $74/mt for lumps and $125/mt for blast furnace grade pellets, ex-works, no taxes included.
In August iron ore exports (pellets excluded) from Brazil reached 25.80 million mt, against 32.41 million mt in July, while pellet exports increased to 2.50 million mt in August from 1.85 million mt in July.
Preliminary data from customs point to an increase in September from the combined volume of iron ore and pellets exported from Brazil in August.