The price of Brazilian iron ore with a 65 percent iron content is now $118/mt, CFR China, comparable with $122/mt on June 2, market insiders told SteelOrbis.
According to sources, the iron ore purchases by the Chinese steel producers seems to be entering a downward trend, with each plant buying exactly the volumes needed to replenish their inventories, in accordance with immediate requirements.
Blast furnace grade pellets are exported at $136/mt, against $140/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, increased to 8.5 percent from previously 8.3 percent, when considering the iron units, reflecting a high demand for high grade ores, insiders said.
In the Brazilian domestic market, reference prices are now $77/mt for the ore and $95/mt for pellets, against $82/mt and $100/mt previously, on an ex-works basis, no taxes included.
Such prices were negatively affected by higher Brazil-China freight rates, as the domestic price is based on FOB conditions, having CFR China as the reference.
According to brokers Banchero Costa, the Tubarão-Qingdao route, the reference for Brazil-China iron ore shipments, stands today at $37.72/mt, against $36.24/mt last week, remaining among the highest in recent years, and 87.6 percent above the same period in 2025, reflecting mostly higher bunker oil prices resulting from the conflict in the Middle East.
