The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $124/mt today, against $126/mt on June 16, CFR China conditions.
Prices continue to oscillate in accordance with players reacting to the iron ore market, and now traders have shown their disappointment with recent announcements by Chinese authorities, in relation to the reduction of the interest rates that serve as reference for mortgages. In their view, the reduction should have been more intense.
The Brazilian high-grade product has now a premium of 4.7 percent in relation to the 62 percent Australian iron ore, against 3.9 percent previously, showing now a small improvement, although remaining lower than the historical average.
The export price of blast furnace grade pellets is now $142/mt, CFR China, against $144/mt previously, reflecting a stable premium ascribed to the product in relation to the equivalent sinter feed fines.
In the Brazilian domestic market, the prices are now estimated at $100/mt for the iron ore and $118/mt for the pellets, against $102/mt and $120/mt previously, ex-works, no taxes included.
