The price for Brazilian high-grade iron ore, with 65 percent iron content, is now $120/mt against $118/mt earlier this week, CFR China.
Strong steel exports from China, healthy margins for the local steel plants and low inventories at the country’s ports are positively affecting iron ore prices.
The export price of blast furnace grade pellets is now $138/mt against $131/mt previously, CFR China, reflecting a higher 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, increased to 13.1 percent from 12.1 percent previously, the highest figure in more than three years.
In the Brazilian domestic market, reference prices are now $92/mt for the ore and $111/mt for pellets, up from $90/mt and $103/mt, respectively, ex-works and excluding taxes.