Brazilian high-grade iron ore (65% Fe) is now priced at $117/mt, down from $119/mt last week, CFR China.
The price is down due to lower demand from Chinese steel producers and high port inventories, although perspectives for fiscal incentives and real estate market stabilization provide some support.
The export price of blast furnace grade pellets is now $136/mt, against $137/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 7.1 percent, against 6.8 percent previously.
In the Brazilian domestic market, reference prices are now $89/mt for the ore and $108/mt for pellets, against respectively $90/mt and $109/mt previously, ex-works and excluding taxes.