The price of Brazilian iron ore with a 65 percent iron content is now assessed at $123/metric ton (mt), CFR China, against $126/mt earlier this week. Sources told SteelOrbis prices remain negatively affected by high iron ore volumes stockpiled at Chinese ports, and expectations for increased offers of the ore from the seaborne market.
The Brazilian iron ore price has declined for the past three weeks, since $129/mt was achieved on 20 March.
Blast furnace-grade pellets are now exported at $141/mt, against $144/mt previously, showing a stable premium over same-grade sinter feed fines.
The premium for Brazilian high-grade ore containing 65 percent iron, relative to Australian ore with 62 percent iron, increased to 10.3 percent from the previous 9.9 percent, when considering the iron units, reflecting high demand for high-grade ores, insiders said.
In the Brazilian domestic market, reference prices are now $90/mt for the ore and $107/mt for pellets, against $92/mt and $111/mt previously, on an ex-works basis, no taxes included.
