According to brokers Banchero Costa, the decrease of $3.50/ton reflects "a predominantly bearish mood last week, with rates declining on key iron ore routes amid sluggish trading activity and a shortage of fresh cargo."
According to brokers, the price in January 2026 is expected to remain in the range of $20-$25/ton, which signals stability in the absence of new demand.
During the first two weeks of December, Brazil exported an average of 1.3 million tons of iron ore per day, a volume considered historically high.
For the rest of the month, the volume is expected to decrease depending on seasonality.
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