The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $122/mt today, against $126/mt on June 9, CFR China conditions.
According to analysts, there is no sufficient economic support to suggest that the civil construction or the manufacturing industry in China will show a robust performance over the next months, increasing the steel demand and the iron ore demand as consequence.
Meanwhile, traders maintain expectations of additional support to the Chinese real state sector by the country’s authorities.
The Brazilian high-grade product has now a premium of 5.0 percent in relation to the 62 percent Australian iron ore, against 5.2 percent previously, now reaching the lowest figure since November 2022.
The export price of blast furnace grade pellets is now $140/mt, CFR China, against $144/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 now estimated at $99/mt for the iron ore and $117/mt for the pellets, against $102/mt and $120/mt previously, ex-works, no taxes included.
In May, Brazil exported 32.97 million mt of iron ore (pellets excluded) and 2.22 million mt of pellets, against respectively 23.43 million mt and 1.77 million mt in April.
