The price of Brazilian high-grade iron ore, 65 percent iron contents, is $150/mt today, against $153/mt on January 2, CFR China conditions.
According to analysts, the price maintains an oscillating pattern, now negatively affected by investors selling positions in the market to achieve profits, amid reduced demand for steel in China and lower margins for the integrated steel producers in the country.
The Brazilian high-grade product has now a premium of 2.4 percent in relation to the 62 percent Australian iron ore, against 2.2 percent previously, still reflecting reduced demand for the high-grade product.
The export price of blast furnace grade pellets is now estimated at $167/mt, CFR China, against $171/mt previously, reflecting a stable premium ascribed to the product in relation to the equivalent sinter feed fines.
In the Brazilian domestic market, the prices are estimated at $118/mt for iron ore and $136/mt for pellets, against respectively $122/mt and $139/mt previously, ex-works, no taxes included.
In December, Brazil exported 36.75 million mt of iron ore (pellets excluded) and 2.90 million mt of pellets.
The main destinations of the ore were Asia (33.62 million mt, of which 28.96 million mt to China), the Middle East (1.50 million mt), Europe (1.04 million mt), South America (353,400 mt) and Africa (90,400 mt).
The main destinations of the pellets were Asia (1.28 million mt), Africa (771,800 mt), Europe (434,700 mt), South America (178,100 mt), and Trinidad and Tobago (158,400 mt).