The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $120/mt today, against $118/mt on November 25, CFR China.
According to analysts, the increase reflects optimist data about steel plants in China, as the industrial activity in the country increased in November, according to an official report unveiled last Saturday, indicating higher demand for steel products, including from other countries.
The export price of blast furnace grade pellets is $136/mt, against $135/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 7.9 percent, the lowest figure in two months, against 9.4 percent previously, reflecting lower 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 $93/mt for the iron ore and $110/mt for the pellets, against respectively $93/mt and $109/mt previously, ex-works, no taxes included. Such prices were negatively affected by a higher Brazil-China freight rate, as the domestic price is based on FOB prices, having CFR China as the reference.
Preliminary numbers from customs remain pointing to a combined export volume of iron ore and pellets in November, lower than the 35.27 million mt exported from Brazil in October.