The price of Brazilian high-grade ore, 65 percent iron contents, declined to $148/mt from $152/mt last Friday, CFR China conditions, maintaining an oscillating pattern over the last few weeks.
According to sources, the decline reflects lower demand and trading activities at Chinese ports, although the current electric energy deficit worldwide may divert steel production from electric arc furnaces to integrated production, increasing iron ore demand and positively affecting prices.
Similarly, the price of the Brazilian blast furnace grade pellet is now $189/mt, against $194/mt previously, under the same conditions.
The premium of the high-grade ore, in relation to the 62 percent iron Australian ore, is now 12.7 percent, little changed from 12.6 percent previously, still maintaining a high value, linked to its high performance in blast furnaces
In the Brazilian domestic market, the prices are estimated at $104/mt for the ore and $145/mt for the pellets, ex-works, no taxes included, against $108/mt and $149/mt previously, respectively.