Today's Brazilian iron ore price was assessed at $104.39 per tonne for 62% grade iron ore, up by $0.21 from Friday's close, while 65% grade iron ore was assessed at $116.56 per tonne, up by $0.16 from the previous close.
Friday's data showed that iron ore futures in China rose to a one-week high on expectations that the government's stimulus policies would pay off. Demand has also started to show signs of recovery, exceeding expected levels thanks to green conversion.
Green conversion is on the rise and this is expected to lead to higher quality iron ore production. According to weekly assessments, there may be ups and downs this week, but it is not expected to be much lower than the current level. With the government announcing new incentives, iron ore prices have been rising and falling slightly. Demand is expected to remain flat during this period.
Europe in general is in the holiday period and therefore all prices are almost stable and German Iron Ore prices are also stable. The data was last updated on August 2 and only increased by +0.15 EUR. Prices are currently at EUR 95.36. Apart from slight fluctuations in prices, prices are expected to remain stable in August.
Comments
No comment yet.