The price of Brazilian high-grade iron ore, 65 percent iron contents, is $133/mt today, against $138/mt on June 27, CFR China conditions.
According to sources, the decline reflects the reduction in futures and forward-month swaps contracts, with price volatility reducing interest for imports all week.
Similarly, the price of blast furnaces grade pellets decreased to $158/mt from $162/mt previously, with a stable premium ascribed to the product, in relation to the equivalent sinter feed fines.
In the Brazilian domestic market, the prices are now estimated at $101/mt for the iron ore and $125/mt for the pellets, against respectively $105mt and $130/mt previously, ex-works, no taxes included.
The premium of the high-grade ore, in relation to the 62 percent Australian iron ore, is now 9.0 percent, from 9.4 percent previously, still reflecting reduced demand for high-grade products, although maintaining a high figure in historical terms.
Preliminary figures remain pointing to an increase in June from the combined iron ore and pellets exports from Brazil in May, when the country exported 23.37 million mt of iron ore (pellets excluded) and 2.15 million mt of pellets.