Brazilian high-grade iron ore (65% Fe) is now priced at $117/mt, up from $116/mt last week, CFR China.
In the view of analysts, prices are supported by the resilient short-term demand from China, with some steel plants resuming production, following stoppages for maintenance of equipment.
The export price of blast furnace grade pellets is now $136/mt, against $134/mt previously, CFR China, reflecting a stable premium relative to equivalent sinter feed fines.
The premium for Brazilian high-grade ore, containing 65 percent iron, relative to Australian 62 percent iron ore, based on their iron units, is 6.9 percent, the lowest in recent years, against 8.1 percent previously, reflecting reduced interest of steel producers for the high performance of premium products when processed in blast furnaces.
In the Brazilian domestic market, reference prices are now $91/mt for the ore and $110/mt for pellets, against respectively $90/mt and $108/mt previously, ex-works and excluding taxes.
In October, Brazil exported a combined 40.7 million mt of iron ore and pellets against 36.5 million mt in September.
Preliminary numbers, considering the shipping rate of the first two weeks of November, are pointing to a similar or even higher volume for the total of the month.
