The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $120/mt today, stable from November 2, CFR China.
Such stability results from three consecutive declines in the Chinese market last week, coupled to an increase today, reflecting now perspectives of new incentives by the local authorities to stimulate the country’s economy.
The export price of blast furnace grade pellets is $137/mt against $136/mt previously, CFR China, reflecting the same premium ascribed to the product in relation to the equivalent sinter feed fines.
The premium of the Brazilian high-grade ore, in relation to the Australian 62 percent iron ore, when considering their iron units, is 8.0 percent against 7.9 percent previously, still reflecting a relatively low interest, at such price level, by the integrated steel producers for the higher productivity and lower emissions of the premium ores when processed in blast furnaces.
In the Brazilian domestic market, the reference prices are $94/mt for the iron ore and $111/mt for the pellets against respectively $93/mt and $110/mt previously, ex-works, no taxes included.
In November, Brazil exported 31.60 million mt of iron ore (pellets excluded) and 2.07 million mt of pellets.
The destinations of the iron ore were Asia (28.13 million mt, of which 24.74 million to China), the Middle East (1.90 million mt), Europe (1.37 million mt), Mexico (128,100 mt), and Argentina (68,100 mt).
The destinations of the pellets were Africa (718,700 mt), Asia (535,500 mt), the US (229,900 mt), the United Arab Emirates (192,900 mt), Argentina (168,200 mt), Trinidad and Tobago (83,200 mt), Italy (78,900 mt), and Mexico (60,000 mt).