The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $118/mt today, against $117/mt on 20 November, CFR China.
According to analysts, the price remains supported by a weaker US Dollar, and by the restart of iron ore acquisitions by the Chinese steel producers, now coupled with higher global steel production, up 0.4 percent on yearly basis in October to 151.2 million mt, as announced by the World Steel Association, and by lower steel inventories in China, reflecting an increased volume exported by the country.
The export price of blast furnace grade pellets is $135/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 9.4 percent against 9.8 percent previously, still 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 $93/mt for the iron ore and $109/mt for the pellets, against respectively $92/mt and $108/mt previously, ex-works, no taxes included.
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.