The price of the Brazilian high-grade ore, 65 percent iron contents, increased to $152/mt from $146/mt last Friday, CFR China conditions.
Over the last few weeks, iron ore prices have shown a pattern of volatility, having reached on Monday $160/mt, its highest quotation since early September. According to sources, such volatility is expected to be maintained in the short term, due to the reduced steel production in China.
But under the current price level, iron ore miners continue to achieve comfortable profit margins, maintaining their projects for increasing production capacity.
Similarly, the price of the Brazilian blast furnace grade pellet is now $149/mt, against $187/mt previously, CFR China conditions.
The premium of the high-grade ore, in relation to the 62 percent iron Australian ore, is now 12.6 percent, against 12.9 percent previously, still maintaining a high value linked to its high performance in blast furnaces
In the Brazilian domestic market, the prices are estimated at $108/mt for the ore and $194/mt for the pellets, ex-works, no taxes included, against $102/mt and $187/mt previously, respectively.