A major producer of the foundry grade pig iron told SteelOrbis that his last deal for export was closed FOB at $395/mt, against a range of $415/mt to $427/mt three weeks ago.
He added that his foreign clients are trying to push the price down to $380/mt for the next shipments, a figure that could affect the product margin.
"It is a buyer's market: there is a lot of offer and buyers are imposing prices", he said.
In the domestic market, the price of the product went down to BRL1,150/mt ($406/mt), full taxes except IPI, against BRL1,250/mt ($442/mt) three weeks ago under the same conditions.
Exports of the foundry grade pig iron in January, reflecting deals closed in November, were settled FOB at up to $494/mt.
$1= BRL 2.83