Brazilian 65% Fe iron ore is priced at $124/mt, up from $122/mt last week, CFR China.
Steel producers in China have been restocking before the national holidays, while shipments from Australia and Brazil have reportedly decreased. These factors continue to drive prices upward, and now local authorities have introduced measures aimed at boosting domestic demand, including increasing household consumption, which provides further support for prices.
The export price of blast furnace grade pellets is now $142/mt, against $140/mt previously, CFR China, reflecting a stable premium relative to equivalent sinter feed fines.
The premium for Brazilian high-grade ore with 65 percent iron over Australian ore containing 62 percent iron is currently 6.8 percent, down from 7.3 percent previously. This rate remains historically low and shows that steel producers are not especially interested in the improved performance of higher-quality products in blast furnaces.
In the Brazilian domestic market, reference prices are now $99/mt for the ore and $117/mt for pellets, against respectively $97/mt and $115/mt previously, ex-works and excluding taxes.