The export price of the Brazilian high-grade ore, 65 percent iron contents, has reached $144/mt, against $136/mt late last week, marking the fourth consecutive day of increases in the Chinese spot market.
In a similar trend, the price of the Brazilian blast furnace grade pellet is now $177/mt, against $170/mt late last week
The premium of the high-grade ore, in relation to the 62 percent iron Australian ore, is now 14.8 percent, against 16.4 percent previously.
The increase of the price of the high-grade ore, along with the price of other iron ore grades, reportedly reflects pre-holiday restocking activities at China’s ports. For the previous 10 weeks, iron ore prices had declined by 54 percent, and such relatively low prices have also played a role in increasing demand.
In the Brazilian domestic market, the prices are estimated at $104/mt for the ore and $137/mt for the pellets, ex-works, no taxes included, against $96/mt and $130/mt, respectively last week.