The price of Brazilian high-grade iron ore, 65 percent iron contents, is $139/mt today, against $133/mt on January 9, CFR China conditions.
The increase, with the price reaching its highest value since late June 2022, reflects positive expectations in relation to the Chinese economy, with indications that the government will support the country’s real state sector, including more offers of financial loans with reduced interest rates.
The Brazilian high-grade product has now a premium of 7.2 percent in relation to the 62 percent Australian iron ore, against 6.6 percent previously, still reflecting increased demand for the premium iron ore.
The export price of blast furnace grade pellets is now $156/mt, CFR China, against $150/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 $118/mt for the iron ore and $135/mt for the pellets, against respectively $111/mt and $128/mt previously, ex-works, no taxes included.