Exports of pig iron by Brazilian independent producers reached 248,000 mt in July, 25 percent more than in June, at an average FOB price of $404/mt, 2 percent higher than June, according to the country’s ministry of development, industry and foreign trade, MDIC.
The average price points to the steelmaking grade product sold at $389/mt FOB, roughly the same as July, while the foundry grade product was sold at $431/mt FOB, up 5 percent.
The most recent deals for the steelmaking grade product were closed at $350/mt FOB, reflecting reduced demand from the steel industry, while for the price of the foundry grade the price is in the $455-$465/mt FOB range.
In the domestic market, the foundry grade product remains sold FOB in the $571/mt to $576/mt range, FOB, excluding IPI.
Exports by the producers in the northern states of Para and Maranhao, all steelmaking grade, went up by 18 percent to 160,000 mt, while from those in the southeastern states of Minas Gerais and Sao Paulo, chiefly foundry grade, went up by 41 percent to 88,000 mt.
The main destinations were the US (up 4 percent to 191,000 mt), the EU (45,000 mt against 3,300 mt in June) and Asia (up 2 percent to 11,400 mt).