The price of the Brazilian high-grade ore, 65 percent iron contents is now at $141/mt, CFR China conditions, up nearly $3/mt since yesterday but down from $144/mt reported on Monday.
The prices of all iron ore grades were positively affected today by the decision by Australia’s FMG to stop operations at its Solomon Hub iron ore mine, following the death of a worker due to a ground collapse at the mine.
Ex-Brazil blast furnace grade pellet is now offered at $175/mt, ex-works, no taxes included, against $177/mt reported on Monday.
The premium of the high-grade ore, in relation to the 62 percent iron Australian ore, when considering their iron units, is now 16.0 percent, against 14.8 percent on Monday, reflecting the resilient demand for its high performance in blast furnaces.
In the Brazilian domestic market, the prices are estimated at $97/mt for the ore and $131/mt for the pellets, ex-works, no taxes included, against $104/mt and $137/mt on Monday, respectively. Such decline reflects also increased Brazil-China freight rates, as the domestic prices are based on the equivalent to the FOB price of the products.