The price of Brazilian high-grade iron ore, 65 percent iron contents, is $128/mt today, against $121/mt on August 18, CFR China conditions.
According to sources, the increase reflects optimism in relation to increased iron ore demand from China, due to measures adopted in the country to support the economy.
Prices are also positively affected by the apparent lack of clear administrative measures in relation to the reduction of steel production this year in China, or to the limitation of volumes to the levels of 2022.
The Brazilian high-grade product has now a premium of 5.3 percent in relation to the 62 percent Australian iron ore, against 5.8 percent previously, still lower than the historical average.
The export price of blast furnace grade pellets is now $145/mt, CFR China, against $139/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 estimated at $104/mt for the iron ore and $121/mt for the pellets, against $98/mt and $116/mt previously, ex-works, no taxes included.