On May 26, SteelOrbis reported a US import basic steelmaking pig iron deal from the Minas Gerais region at $340/mt FOB Southern Brazil port. This price translates to approximately $370-375/mt CFR US port and $360-365/mt FOB from a Northern Brazil port.
According to sources close to SteelOrbis, a US company has closed a deal for basic pig iron at $360/mt FOB Northern Brazil port which translates to $370/mt CFR New Orleans (NOLA). Sources do not believe that this price level will be maintained during further summer negotiations. Several other US based firms are seeking pig iron, but are targeting $355/mt FOB Northern Brazil port or $365/mt CFR US port, noted a source.