The price of Brazilian high-grade iron ore, 65 percent iron contents, is $125/mt today, against $124/mt on June 21, CFR China conditions.
The price level, still fluctuating, now reflects iron ore restocking activities by Chinese plants after the long holiday, coupled to the impact of the declaration by the prime minister Li Qiang, in the World Economic Forum, that the country will launch more efficient measures to expand its domestic demand.
The Brazilian high-grade product has now a premium of 4.4 percent in relation to the 62 percent Australian iron ore, against 4.7 percent previously, remaining lower than the historical average.
The export price of blast furnace grade pellets is now $143/mt, CFR China, against $142/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 $102/mt for the iron ore and $119/mt for the pellets, against $100/mt and $118/mt previously, ex-works, no taxes included.
In June, the Brazilian combined iron ore and pellets export volume is expected to remain below the 35.18 million mt exported in May.