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

Monday, 27 November 2023 21:53:40 (GMT+3)   |   Sao Paulo
       

The price of Brazilian high-grade iron ore, 65 percent iron contents, is $145/mt today, stable from November 21, CFR China conditions.

After a peak of $148/mt reached last week, the market was negatively affected by the rumors that Chinese authorities would increase the supervision of iron ore prices, aiming at reducing speculation with futures prices.

The Brazilian high-grade product has now a premium of 4.2 percent in relation to the 62 percent Australian iron ore, against 3.4 percent previously. This premium is the highest in three months, but remains among the lowest figures in recent years.

The export price of blast furnace grade pellets is now $167/mt, CFR China, against $168/mt previously, reflecting a roughly stable premium ascribed to the product in relation to the equivalent sinter feed fines.

In the Brazilian domestic market, the prices are estimated at $120/mt for the iron ore and $142/mt for the pellets, against $121/mt and $143/mt previously, ex-works, no taxes included.


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