The price of Brazilian high-grade iron ore, 65 percent iron contents, is $153/mt today, against $152/mt on December 26, CFR China conditions.
According to analysts, although reaching an 18-month high, the price still maintains an oscillating pattern now positively affected by optimistic perspectives unveiled by data on the Chinese economy, coupled with expectations of high volumes of iron ore acquisitions ahead of the Chinese holiday period.
The Brazilian high-grade product has now a premium of 2.2 percent in relation to the 62 percent Australian iron ore, against 2.7 percent previously. The premium now reflects reduced demand for the high-grade product, an indication that iron ore consumers could be more interested in high volumes, rather than higher productivity.
The export price of blast furnace grade pellets is now estimated at $171/mt, CFR China, against $170/mt previously, reflecting a stable premium ascribed to the product in relation to the equivalent sinter feed fines.
In the Brazilian domestic market, the prices are estimated at $122/mt for the iron ore and $139/mt for the pellets, against $120/mt and $138/mt previously, ex-works, no taxes included.