The price of the 65 percent iron sinter feed fines of Brazil declined to $236/mt today from $249/mt two days ago, CFR China conditions. Week-over-week, quotations are down $20/mt.
Sources mentioned the reduced demand from China as the main factor behind the decline, but traders are said to be holding decisions and waiting to see how the Chinese steel producers will react to government plans to reduce steel production in some regions of the country.
Regardless of the price decline, the price of the Brazilian 65 percent iron ore maintains a premium of 11.8 percent, when considering its iron units in relation to those of the Australian 62 percent iron ore. On a yearly basis, the price of the ore is 93 percent higher than it was one year ago.
The price of ex-Brazil blast furnace grade pellets has followed a similar pattern, declining to $305/mt from $318/mt previously.
In the Brazilian domestic market, such prices are estimated at $201/mt for the ore and $270/mt for pellets, against previously $214/mt and $283/mt respectively, ex-works, no taxes included.