Brazilian high grade iron ore price declines on lower steel demand

Friday, 14 May 2021 21:25:25 (GMT+3)   |   Sao Paulo
       

The price of the 65 percent iron sinter feed fines of Brazil has declined to $242/mt from $259/mt three days ago, CFR China conditions. Sources say prices are still exhibiting an oscillating pattern, as another all-time high record price of $264/mt was reached two days ago.

Sources mentioned that the $17/mt decline in prices reflects concerns about reduced demand for steel products in different world areas, although even after such a decline the price remains among the highest in recent years.

According to sources, a decline in iron ore prices is not considered a surprise, as inventories in China remain high at both ports and steel plants, while the seaborne market is showing a good performance in both Brazilian and Australian supplies.

The risk notice recently issued by China’s Dalian Commodity Exchange (DCE), about an increased volatility in futures contracts, remains as a factor negatively affecting iron ore prices.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials