With stable iron ore prices in the Chinese spot market, coupled with stable ocean freight rates, iron ore prices in Brazil have remained stable on a weekly basis.
Sinter feed fines of 65 percent iron contents remain estimated to be traded for export from Brazil at $71/mt, the equivalent lumps $92/mt and blast furnace grade pellets at $138/mt, all 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, Brazil exported 26.66 million mt of iron ore (pellets excluded) and 2.26 million mt of pellets. The main destinations of the iron ore were Asia (21.79 million mt, of which 16.66 million mt to China), the EU (2.14 million mt) and the Middle East (2.07 million mt), while smaller tonnages were shipped to Turkey (300,000 mt), Mexico (245,000 mt) and South America (94,500 mt).
For pellets, the main destinations in February were Asia (676,000 mt), Egypt (499,200 mt), the EU (456,800 mt) and the US (322,600 mt).
