The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $115/mt today, against $116/mt on October 18, CFR China.
According to analysts, such a small decline of price reflects indications that the steel demand in China could be in a downtrend.
In their view, the prices are expected to move over the next days in a limited range, up or down, as market players believe that an important meeting by Chinese authorities is set for the end of this month, when more incentives to the country’s economy could be announced.
The export price of blast furnace grade pellets is $132/mt against $133/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 9.8 percent against 9.6 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 $87/mt for the iron ore and $103/mt for the pellets against respectively $88/mt and $104/mt previously, ex-works, no taxes included.