Brazilian high-grade iron ore price declines week-on-week

Tuesday, 23 April 2024 20:29:15 (GMT+3)   |   Sao Paulo
       

The price of Brazilian high-grade iron ore exports, 65 percent iron contents, is $127/mt today, CFR China, against $129/mt on April 17.

The decline reflects lower than expected iron ore restocking activities by the steel producers in China, before the country’s holiday of May 1.

According to analysts, the iron ore offer is still higher than its effective demand, as seen by increasing volume of the ore in the ports.

The export price of blast furnace grade pellets is now $139/mt, against $142/mt previously, reflecting the same 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 6.6 percent, against 6.0 percent previously, reflecting the 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 $98/mt for the iron ore and $110/mt for the pellets, against respectively $100/mt and $113/mt previously, ex-works, no taxes included.


Similar articles

Brazilian high-grade iron ore price increases from last week

04 Nov | Scrap & Raw Materials

Daily iron ore prices CFR China - November 4, 2024

04 Nov | Scrap & Raw Materials

Australia’s Mineral Resources reports higher iron ore output and sales for Q1 FY 2024-25

04 Nov | Steel News

BHP Billion partners with ABB to support decarbonization efforts

04 Nov | Steel News

Major steel and raw material futures prices in China – November 4, 2024 

04 Nov | Longs and Billet

Brazil Iron plans investment in $5 billion iron ore project

01 Nov | Steel News

Daily iron ore prices CFR China - November 1, 2024

01 Nov | Scrap & Raw Materials

Canada’s Champion Iron plans to commission DR pellet project in H2 2025

01 Nov | Steel News

Fortescue CEO: Australia may lose leader position in global iron ore market

01 Nov | Steel News

Major steel and raw material futures prices in China – November 1, 2024 

01 Nov | Longs and Billet