Exports of pig iron from Brazil reached 218,600 mt in March, 51 percent more than in February, according to the ministry of development, industry and foreign trade, MDIC.
The average FOB price declined by 7.5 percent to $198/mt, FOB conditions, pointing to the steelmaking grade product exported at $180/mt and the foundry grade exported in a range of $206/mt to $281/mt, all FOB conditions, in deals likely closed in January.
Exports to the US declined by 10 percent to 59,900 mt, almost entirely of the steelmaking grade product, priced in average at $180/mt FOB.
A source from an exporter in the north of the country told SteelOrbis that his last export deal to the US was closed at $230/mt, FOB conditions for the steelmaking grade product.
He mentioned that other exporters have closed deals at $260/mt for export of the steelmaking grade product to Asia.