The price of Brazilian high-grade iron ore exports, 65 percent iron contents, is $115/mt today, against $109/mt on July 19, CFR China conditions.
According to analysts, the iron ore price trend continues to reflect a loose supply/demand balance, now with lower volumes of iron ore offered from Australia and Brazil, and lower steel production. Expectations for prices increasing during the second half of the year are maintained, due to possibilities of increased steel production in China.
The price of blast furnaces grade pellets is now $143/mt, against $137/mt previously, with the same premium ascribed to the product, in relation to the equivalent sinter feed fines.
In the Brazilian domestic market, the prices are now estimated at $82/mt for the iron ore and $110/mt for the pellets, against respectively $76/mt and $104/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 6.9 percent, from 7.8 percent previously, the lowest figure since August 2021, reflecting reduced demand for high-grade products.