The price of Brazilian high-grade iron ore, 65 percent iron contents, is $150/mt today, CFR China, against $148/mt on January 24, achieving the highest price in three weeks.
According to analysts, the increase reflects a lower volume of iron ore arriving at Chinese ports, coupled with forecasts of a small increase of steel production in the country; the restocking by the steel producers before the Chinese holidays period is mostly concluded, raising expectations of a stable demand for the high-grade ore.
The export price of blast furnace grade pellets is now $165/mt, against $163/mt previously, reflecting a stable premium ascribed to the product in relation to the equivalent sinter feed fines.
The premium of the Brazilian high-grade ore, in relation to the Australian 62 percent iron ore, is now 3.6 percent, against 4.0 percent previously, now reflecting reduced interest by the integrated steel producers for the higher productivity of the premium ores.
In the Brazilian domestic market, the prices are estimated at $123/mt for the iron ore and $138/mt for the pellets, against respectively $121/mt and $136/mt previously, ex-works, no taxes included.