The price of Brazilian iron ore with a 65 percent iron content is now $123/mt, CFR China, compared with $125/mt one week ago, market insiders told SteelOrbis.
Sources said iron ore prices were pressured by a 22 percent increase in shipments from Australia and Brazil during the period. At the same time, a fatal coal mine accident in China pushed coal prices higher, which in turn increased prices across the steel production chain.
Blast furnace grade pellets are exported at $141/mt, against $143/mt previously, showing the same 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, declined slightly to 7.8 percent from previously 7.9 percent, when considering the iron units, still reflecting high demand for high grade ores, insiders said.
In the Brazilian domestic market, reference prices are now $83/mt for the ore and $101/mt for pellets, against $86/mt and $104/mt previously, on an ex-works basis, no taxes included.
Such declines reflect also higher Brazil China freight rates, as the domestic price is based on FOB conditions, having CFR China as the benchmark.
According to brokers Banchero Costa, the Tubarão-Qingdao route, the reference for Brazil-China iron ore shipments, stands today at $36.80/mt, against $35.51/mt last week, once again the highest in recent years, and 97.2 percent above the same period in 2025, reflecting mostly higher bunker oil prices resulting from the conflict in the Middle East.
