The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $121/mt today, stable from February 10, CFR China.
The stability reflects, on the positive side, expectations by market players of more incentives to the economy by Chinese authorities, coupled with reduced shipments from the main iron ore suppliers.
The export price of blast furnace grade pellets is also stable at $139/mt, CFR China, reflecting a stable 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 7.8 percent, renewing a five-month low, against 7.9 percent previously, still reflecting the 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 $101/mt for the iron ore and $120/mt for the pellets against respectively $101/mt and $119/mt previously, ex-works, no taxes included.
In January, Brazil exported 28.929 million mt of iron ore (pellets excluded) and 2.060 million mt of pellets.
Preliminary numbers are pointing to lower volumes to be exported in February.