The price of Brazilian high-grade iron ore, 65 percent iron contents, is $113/mt today, against $111/mt on August 19, CFR China conditions.
According to sources, expectations are maintained for increased iron ore prices during the second half of 2022, with forecasts maintained for an average price of the Brazilian high-grade product around $125/mt during the period.
The price of blast furnaces grade pellets is now $137/mt, stable from August 19, reflecting a 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 $91/mt for the iron ore and $115/mt for the pellets, against respectively $77/mt and $104/mt previously, ex-works, no taxes included. The increase also reflects a lower freight rate from Brazil to China, as the domestic price is based on the FOB export price.
The premium of the high-grade ore, in relation to the 62 percent Australian iron ore, is now 6.4 percent, from 5.9 percent previously, a figure pointing to an increased demand for high-grade products.