The price of Brazilian iron ore with a 65 percent iron content is now $126/metric ton (mt), CFR China, against $123/mt one week earlier, market insiders told SteelOrbis.
Sources said prices rose amid declining iron ore stocks at the main Chinese ports, estimated at 153 million mt, representing a 0.4 percent reduction in one week.
Blast furnace-grade pellets are now exported at $144/mt, against $141/mt previously, showing a stable 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 to 9.3 percent from the previous 10.3 percent, when considering the iron units, the lowest in two months, but still reflecting high demand for high grade ores, insiders said.
In the Brazilian domestic market, reference prices are now $93/mt for the ore and $110/mt for pellets, against $90/mt and $107/mt previously, on an ex-works basis, no taxes included.
During the first two weeks of April, the average daily volume of combined iron ore and pellets exports from Brazil has exceeded 1 million mt, pointing to the return to the usual levels, after the average of 896,000 mt/day in March.
