Brazilian pig iron prices stable

Monday, 19 December 2016 20:37:42 (GMT+3)   |   Sao Paulo
       

Brazil exported 176,900 mt of pig iron in November, 75 percent more than in October, at an average FOB price reduced by 4.4 percent to $255/mt, pointing to the steelmaking grade product exported at $223/mt, while the foundry grade was exported in a range of $283/mt to $288/mt FOB, with price deals probably closed in September, said the country’s ministry of industry, foreign trade and services, MDIC.
 
The shipments in November were destined to the EU (92,800 mt at $247/mt), Latin America (41,000 mt at $236/mt), Asia (22,000 mt at $290/mt) and the US (21,000 mt at $288/mt), all FOB conditions.
 
According to a major exporter of the steelmaking grade in the northeastern state of Maranhao, the most recent deal was closed at $310/mt FOB conditions, stable in one month, after a strong increase the month before.
 
He added that he is paying ocean freight rate to US ports at $13/mt, slightly increased in one month.
 
A producer of the foundry grade product in the southeastern state of Minas Gerais told SteelOrbis that his last export deal was closed at $340/mt, CFR conditions, representing a small increase in one month.

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