The price of Brazilian high-grade iron ore, 65 percent iron contents, is $130/mt today, against $122/mt on July 11, CFR China conditions, achieving the highest quotation since April 21, after four consecutive increases during the week.
Remaining in a scenario of price uncertainties, the increase now reflects the impact of lower iron ore stocks at Chinese ports and steel producers, while players expect more measures by Chinese authorities to compensate for the lower export performance of the country in June, as recently reported.
The Brazilian high-grade product has now a premium of 7.7 percent in relation to the 62 percent Australian iron ore, against 7.3 percent previously, remaining in line with the historical average.
The export price of blast furnace grade pellets is now $148/mt, CFR China, against $140/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 $105/mt for the iron ore and $123/mt for the pellets, against $97/mt and $115/mt previously, ex-works, no taxes included.