The price of Brazilian high-grade iron ore, 65 percent iron contents, is $121/mt today, against $122/mt on July 27, CFR China conditions.
According to analysts, iron ore prices are oscillating around stability over the last days, reflecting news about the economy in in China, including increasing government investments in infrastructure and support to the country’s civil construction sector.
Analysts maintain expectations for increased iron ore prices during the second half of 2022, and an average price for the Brazilian high-grade product around $125/mt during the period.
The price of blast furnaces grade pellets is now $149/mt, against $150/mt previously, with the same premium ascribed to the product, in relation to the equivalent sinter feed fines, with perspectives of a declining premium over the next weeks.
In the Brazilian domestic market, prices are now estimated at $87/mt for the iron ore and $115/mt for the pellets, against respectively $88/mt and $116/mt previously, ex-works, no taxes included.
The premium of the high-grade ore, in relation to the 62 percent Australian iron ore, is now 2.0 percent, from 4.2 percent previously, the lowest figure since November 2016, possibly reflecting a downtrend for the premium of high-grade products.