The price of Brazilian high-grade iron ore, 65 percent iron contents, is $122/mt today, against $126/mt on July 11, CFR China conditions.
According to analysts, a scenario persists of temporarily oscillating prices that reflect reduced offers from Australia, due to stoppages for maintenance at the miners’ operations. The stoppages have been compensated by reduced demand from steel producers, also due to suspension of production, resulting in a trend of iron ore prices declining further for the rest of the year.
Similarly, the price of blast furnaces grade pellets decreased to $150/mt from $151/mt previously, in a smaller reduction reflecting an increased premium ascribed to the product, in relation to the equivalent sinter feed fines.
In the Brazilian domestic market, the prices are now estimated at $89/mt for the iron ore and $117/mt for the pellets, against respectively $93/mt and $117/mt previously, ex-works, no taxes included.