Brazilian high-grade iron ore price declines

Tuesday, 20 February 2024 21:09:46 (GMT+3)   |   Sao Paulo
       

The price of Brazilian high-grade iron ore, 65 percent iron contents, is $135/mt today, CFR China, against $139/mt on February 6, achieving now the lowest value in more than three months.

According to sources, the declining prices after the holiday period in China reflect concerning perspectives for the iron ore demand in China, regardless of the reduction of interest rates for five-year loans, recently adopted by the country’s authorities to support the local real estate market.

Market players reportedly mentioned that the iron ore demand, as measured by the hot metal production, was weaker than expected for the post-holiday period, also playing a role in the decline of the iron ore price.

The export price of blast furnace grade pellets is now $149/mt, against $154/mt previously, reflecting a slightly reduced premium ascribed to the product, in relation to the equivalent sinter feed fines.

The premium of the Brazilian high-grade ore, in relation to the Australian 62 percent iron ore, is now 5.6 percent, against 4.5 percent previously, the highest in six months, reflecting an increasing interest by the integrated steel producers for the higher productivity and lower emissions of the premium ores when processed in blast furnaces.

In the Brazilian domestic market, the prices are estimated at $108/mt for the iron ore and $122/mt for the pellets, against respectively $114/mt and $129/mt previously, ex-works, no taxes included.


Similar articles

Brazilian high-grade iron ore price increases from last week

20 Nov | Scrap & Raw Materials

Brazilian high-grade iron ore price declines during the week

15 Nov | Scrap & Raw Materials

Brazilian high-grade iron ore price declines from last week

11 Nov | Scrap & Raw Materials

India’s coking coal import port traffic falls 6% in April-October

11 Nov | Steel News

Brazilian high-grade iron ore price increases from last week

04 Nov | Scrap & Raw Materials

Brazilian high-grade iron ore price increases from last week

28 Oct | Scrap & Raw Materials

Sweden’s LKAB delays fossil-free sponge iron production in Kiruna to 2040s

25 Oct | Steel News

Brazilian high-grade iron ore price declines slightly from last week

22 Oct | Scrap & Raw Materials

Brazilian high-grade iron ore price declines during the week

18 Oct | Scrap & Raw Materials

Samarco will use biological oil to produce iron ore pellets

17 Oct | Steel News