The price of Brazilian iron ore with a 65 percent iron content is now $128/metric ton (mt), CFR China, against $124/mt one week ago, market insiders told SteelOrbis.
Sources say Chinese steelmakers continue to show strong demand for iron ore, drawing down port inventories and supporting prices.
Blast furnace grade pellets are now exported at $146/mt, against $142/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 8.4 percent from the previous 8.9 percent, when considering the iron units, still reflecting high demand for high grade ores, insiders said.
In the Brazilian domestic market, reference prices are now $92/mt for the ore and $109/mt for pellets, against $88/mt and $105/mt previously, on an ex-works basis, no taxes included.