The price of Brazilian high-grade iron ore, 65 percent iron contents, is $130/mt today, against $129/mt on July 21, CFR China conditions.
Remaining in a scenario of uncertainties, the price is now supported by expectations of more stimulus to the Chinese economy by the local authorities, while market players maintain fears of a high volatility of prices in the short term.
When considering a seven-day moving average, the price of the high-grade ore remains the highest since April 25, 2023.
The Brazilian high-grade product has now a premium of 6.0 percent in relation to the 62 percent Australian iron ore, against 6.7 percent previously, remaining in line with the historical average.
The export price of blast furnace grade pellets is stable at $147/mt, CFR China, 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 $108/mt for the iron ore and $125/mt for the pellets, against $106/mt and $123/mt previously, ex-works, no taxes included. The higher prices reflect a reduction of international ocean freight rates, as the domestic prices are based on the FOB prices.