The price of the Brazilian 65% Fe iron ore is $117/mt, CFR China, against $118/mt one week ago.
Such a small decline reflects, in the view of analysts, increased iron ore inventories in 35 ports in China, which have reached a total of 153 million mt, 2.77 million mt more in just one week.
Uncertainties regarding the future demand for the ore are also playing a negative role in prices.
The export price of blast furnace grade pellets also declined slightly to $135/mt, against $136/mt, previously, reflecting the same premium relative to equivalent sinter feed fines.
The premium for Brazilian high-grade ore with 65 percent iron over Australian ore containing 62 percent iron is now 7.5 percent, against 7.2 percent previously, still a low figure in historical terms, but showing signs of a possible uptrend, reflecting the interest of steel producers for the performance of premium ores in blast furnaces.
In the Brazilian domestic market, reference prices are now $95/mt for the ore and $113/mt for pellets, against respectively $95/mt and $114/mt previously, ex-works and excluding taxes.
