The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $118/mt today, up from $115/mt on January 14, and $111/mt on January 6, CFR China.
According to analysts, the increase reflects a series of better-than-expected data on China, including the country’s resilient demand for the ore, and an economy showing a GDP growth of five percent in 2024, against forecasts of 4.9 percent.
Data from the real estate sector has also shown a slight improvement, amid previous negative expectations.
The export price of blast furnace grade pellets is $135/mt against $131/mt previously, CFR China, reflecting higher premium ascribed to the product in relation to the equivalent sinter feed fines.
The premium of the Brazilian high-grade ore, in relation to the Australian 62 percent iron ore, when considering their iron units, is 8.7 percent against 9.3 percent previously, reflecting the interest, at such price level, by the integrated steel producers for the higher productivity and lower emissions of the premium ores when processed in blast furnaces.
In the Brazilian domestic market, the reference prices are $97/mt for the iron ore and $115/mt for the pellets against respectively $93/mt and $110/mt previously, ex-works, no taxes included.