The price of Brazilian high-grade iron ore, 65 percent iron contents, is $116/mt today, against $115/mt on May 26, CFR China conditions.
According to sources, the small increase was achieved despite the decline of prices of other raw materials for the steel production and even for steel prices, reflecting an economic scenario weaker than expected in China, raising fears of iron ore prices declining in the coming weeks.
The Brazilian high-grade product has now a premium of 7.8 percent in relation to the 62 percent Australian iron ore, against 10.0 percent previously, still reflecting a reasonable premium for high-grade iron ore products, when considering historical numbers.
The export price of blast furnace grade pellets is now $134/mt, CFR China, against $133/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 $92/mt for the iron ore and $110/mt for the pellets, against $91/mt and $109/mt previously, ex-works, no taxes included.