Brazilian high-grade iron ore (65% Fe) is now priced at $121/mt, up from $118/mt one week ago, CFR China.
According to analysts, higher steel prices in China have motivated producers to increase acquisitions of iron ore and other steel raw materials, despite proposal by the country’s authorities to reduce the steel production.
The export price of blast furnace grade pellets is now $139/mt, against $137/mt previously, CFR China, reflecting a roughly stable premium relative to equivalent sinter feed fines.
The premium for Brazilian high-grade ore, containing 65 percent iron, relative to Australian 62 percent iron ore, based on their iron units, is 8.6 percent, the lowest in three months, against 9.2 percent previously, reflecting reduced interest of steel producers for the high performance of premium products when processed in blast furnaces.
In the Brazilian domestic market, reference prices are now $93/mt for the ore and $112/mt for pellets, against respectively $92/mt and $110/mt previously, ex-works and excluding taxes.
