Brazilian high-grade iron ore price remains in uptrend

Tuesday, 21 February 2023 09:23:19 (GMT+3)   |   Sao Paulo
       

The price of Brazilian high-grade iron ore, 65 percent iron contents, is $145/mt today, against $139/mt on February 16, CFR China conditions.

The price has followed a volatile trend recently, which is now positively affected by news from China; Chinese authorities are set to increase consumer expenditures, including those related to real estate acquisitions and the release of previously blocked savings.

The Brazilian high-grade product has now a premium of 4.9 percent in relation to the 62 percent Australian iron ore, against 6.1 percent previously, possibly reflecting reduced demand for the premium iron ore.

The export price of blast furnace grade pellets is now $164/mt, CFR China, against $159/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 $125/mt for the iron ore and $145/mt for the pellets, against respectively $120/mt and $139/mt previously, ex-works, no taxes included.


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