According to sources close to SteelOrbis, Brazilian pig iron offers have not been updated by producers due to limited availability and market uncertainty.
As such, offers for basic steelmaking pig iron to the US continue at $325-340/mt FOB Southern Brazil port and $345-360/mt FOB Northern Brazil port which translate to approximately $355-370/mt CFR US port. In the northern region, shipments are not expected to be available until late August and possibly September while in the southern region producers are said to be delaying negotiations awaiting better market conditions.
Sources believe that due to the strong prime grade scrap prices in the US, as well as CIS offers moving on the higher end of their respective ranges in the EU despite the global pressure on iron ore and coking coal prices, Brazilian producers are likely to transact deals within the offer ranges. The most recent known deals in early May for each region were on the higher end of the present offer prices.