The price of Brazilian high-grade iron ore, 65 percent iron contents, is $142/mt today, against $137/mt on March 27, CFR China conditions.
Despite the increase, the price of the high-grade ore remains showing a varying pattern, alternating positive expectations, such as increasing steel production and reduction of iron ore inventories in China, and negative expectations, such as the pressure of Chinese authorities over iron ore prices and reduction of steel production due to environmental concerns.
The Brazilian high-grade product has now a premium of 6.3 percent in relation to the 62 percent Australian iron ore, against 7.7 percent previously, still confirming the strong demand for high-grade products.
The export price of blast furnace grade pellets is now $161/mt, CFR China, against $156/mt previously, reflecting a slightly reduced premium ascribed to the product in relation to the equivalent sinter feed fines.
In the Brazilian domestic market, the prices are now estimated at $119/mt for the iron ore and $138/mt for the pellets, against respectively $113/mt and $132/mt previously, ex-works, no taxes included.