Brazil exported 101,100 mt of pig iron in October, half the volume of September, according to the ministry of industry, foreign trade and services, MDIC.
The steelmaking grade product was exported in average at $255/mt, while the foundry grade was exported in a price range of $273/mt to $298/mt, all FOB conditions.
The reduced volume of October reflects chiefly no exports to the US, against 128,000 mt exported in September.
The main destinations in October were Mexico (36,300 mt), the EU (35,000 mt) and Asia (28,200 mt), while small tonnages were shipped to Australia, the Middle East and South America.
A source from a producer in the southeastern state of Minas Gerais told SteelOrbis that prices are in uptrend, chiefly for the steelmaking grade product, as integrated steel producers are looking for more energetically efficient products to compensate for high coal and coke prices.
“There was an increased interest for lumps, for pellets and now for pig iron,” he said, adding that its last sale of pig iron of the steelmaking grade was closed at $275/mt, FOB conditions, but he is aware that a sale at $290/mt FOB was already closed by a competitor.
For the foundry grade product, he mentioned that the reference price range is now $280/mt to $310/mt FOB, depending on quality parameters.