On June 13, SteelOrbis reported ex-CIS basic steelmaking pig iron deals to the US in the range of $335-350/mt CFR with a $10/mt freight estimate which translated to $325-340/mt FOB Baltic Sea.
The most recent basic pig iron deal from the southern region in Brazil traded down $15/mt at $325/mt FOB or approximately $340-345/mt CFR US port. Sources report to SteelOrbis that this deal price reduced the premium previously sought by Brazilian basic pig iron producers to bring them more in line with CIS basic pig iron offers.
CIS pig iron producers are heard trending stable with offers at $335-350/mt CFR US port or approximately $325-340/mt FOB Baltic Sea.
A source noted that low-manganese or foundry grade pig iron offers are presently at $370-380/mt FOB Baltic Sea. This translates to a decline of $5/mt from the top of the previous $370-385/mt FOB Baltic Sea range. In CFR terms, this price translates to approximately $380-390/mt CFR US port.