The price of Brazilian high-grade iron ore, 65 percent iron contents, is $116/mt today, against $113/mt on September 8, CFR China conditions.
According to sources, China's steel production increased in late August, by 7 percent from late July, raising positive perspectives for iron ore demand and prices in the country, chiefly when considering that iron ore imports of the country have increased by 5 percent in August from July.
The Brazilian high-grade product has now a premium of 6.8 percent in relation to the 62 percent Australian iron ore, against 7.7 percent previously, still a good figure in historical terms despite the decline.
The price of blast furnace grade pellets is now $140/mt, against $137/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 $94/mt for the iron ore and $118/mt for the pellets, against respectively $90/mt and $114/mt previously, ex-works, no taxes included.