The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $116/mt today, CFR China, against $115/mt on April 2.
According to sources, prices are positively affected by perspectives of measures to be adopted by the authorities to reinforce the steel sector in China, coupled to a surge of restocking of iron ore by the steel producers in the post-holiday period.
The export price of blast furnace grade pellets is now $129/mt, against $128/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 6.0 percent, against 6.4 percent previously, still 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 $85/mt for the iron ore and $97/mt for the pellets, against respectively $83/mt and $96/mt previously, ex-works, no taxes included.
In March, Brazil exported 24.7 million mt of iron ore (pellets excluded) and 1.93 million mt of pellets.
The main destinations of the iron ore were Asia (19.88 million mt, of which 16.79 million mt to China), the Middle East (2.61 million mt), Europe (1.57 million mt) and South America (304,000 mt).
The main destinations of the pellets were Africa (623,400 mt), Asia (387,800 mt), Europe (251,000 mt), the Middle East (198,000 mt), Argentina (182,200 mt), and Mexico (129,600 mt), while small volumes were shipped to Trinidad and Tobago and to the US.