The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $105/mt today against $107/mt on September 3, CFR China.
Despite a small increase from yesterday, when the quotation declined to the lowest level since November 2022, the high-grade iron ore price remains negatively affected by concerns about the perspectives for the steel demand in China, reflecting a negative scenario of the country’s economy.
The export price of blast furnace grade pellets is now $121/mt against $123/mt previously, CFR China, 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, when considering their iron units, is 9.5 percent against 9.6 percent previously, still reflecting the 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 prices are estimated at $74/mt for the iron ore and $90/mt for the pellets against respectively $77/mt and $94/mt previously, ex-works, no taxes included.
In August, Brazil exported 32.08 million mt of iron ore (pellets excluded) and 2.24 million mt of pellets against respectively 37.11 million mt and 2.20 million mt in July.
The iron ore exports were destined to Asia (28.90 million mt, of which 26.31 million mt to China), the Middle East (1.65 million mt), Europe (1.23 million mt), and South America (298,600 mt).
The pellets exports were destined to Asia (646,800 mt), Africa (642,700 mt), Europe (381,200 mt), the US (260,100 mt), Trinidad and Tobago (168,800 mt), Argentina (79,200 mt), and Mexico (60,500 mt).