The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $116/mt today against $121/mt on October 14, CFR China.
Despite a $1.0/mt increase from October 17 to 18, the price declined during the week, reflecting uncertainties amid positive measures announced by China’s Central bank and data showing the poor performance of the country’s economy, and steel production in the country declining for the fourth consecutive month to September, less 1.1 percent from August and less 6.1 percent from September 2023.
The export price of blast furnace grade pellets is $133/mt against $138/mt previously, CFR China, 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, when considering their iron units, is 9.6 percent against 8.5 percent previously, reflecting increased interest, at such price level, 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 reference prices are $88/mt for the iron ore and $104/mt for the pellets against respectively $91/mt and $108/mt previously, ex-works, no taxes included.