The price of Brazilian high-grade iron ore, 65 percent iron contents, is $139/mt today, CFR China, against $140/mt on February 2, achieving now the lowest value in three months.
According to sources, the relative stability of the price in four days reflects some Chinese integrated steel plants remaining in maintenance, coupled with reduced activity of iron ore seaborne shipments, raising expectations that prices should remain stable until the end of the week, when the holiday period in China will start.
The export price of blast furnace grade pellets is now $154/mt, against $155/mt previously, reflecting a stable 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 4.5 percent, against 4.3 percent previously, still reflecting more 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 $114/mt for the iron ore and $129/mt for the pellets, against respectively $116/mt and $131/mt previously, ex-works, no taxes included.