Price of Brazilian high-grade iron ore enters third week record prices

Monday, 26 April 2021 22:10:42 (GMT+3)   |   Sao Paulo
       

The price of the ex-Brazil sinter feed fines of 65 percent iron contents has reached $226.30/mt in the Chinese spot market, CFR China conditions, against $220/mt late last week, maintaining an uptrend of all-time record highs now entering the third week.

Meanwhile, a cargo of a lower grade Brazilian ore with low alumina contents has also achieved an all-time record at $194.94/mt, also CFR China conditions.

The low alumina ore, for its characteristics, produces less slag in blast furnaces, and the slag produced is less viscous than usual, allowing for increased operational productivity and reduced consumption of coke, factors highly valued when the reduction of emissions is mandatory under environmental concerns.

A combination of factors remains positively affecting iron ore prices, including higher steel prices, increased iron ore volumes being traded ahead of the Labor Day holidays, iron ore restocking by steel producers in China and increased iron ore imports in Europe, Japan, and South Korea.

Analysts believe that iron ore prices are expected to maintain the current high level at least until June, as the second quarter of the year is seasonally strong in terms of the steel production chain.


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