The price of the Brazilian high-grade iron ore, 65 percent iron contents, is $118/mt today, against $116/mt on 31 July, CFR China.
Regardless of such a small weekly increase, the price of iron ore grade, when considering a seven-day moving average, remains in downtrend over the last thirty days. From the perspective of analysts, this is reflecting steel production cuts in China and high iron ore inventories in Chinese ports.
The export price of blast furnace grade pellets is now $130/mt, CFR China, against $129/mt previously, 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 10.1 percent, against 10.7 percent previously, still reflecting the interest 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 $90/mt for the iron ore and $102/mt for the pellets, against respectively $88/mt and $101/mt previously, ex-works, no taxes included.
Preliminary indications point to combined iron ore and pellets exports from Brazil reaching 39.31 million mt in July, the higher monthly volume in recent years, comparable to 33.22 million mt in June.