The prices achieved in the domestic market by Brazilian independent pig iron producers of the foundry nodular grade product are currently in an upward trend, a major producer told SteelOrbis.
According to the source, the company is expecting prices during Q4 to achieve BRL1,310/mt ($537/mt), against BRL1,280/mt ($525/mt) achieved in September, for FOB full taxes price conditions.
The source mentioned that the foundry grade producers are benefiting from the limited number of players in the market, as only four of the more than 60 producers in the Minas Gerais state can produce the foundry grade product.
In the export market, the company is selling FOB port conditions in the $450-$470/mt range, slightly changed from the $450-$480/mt range of three weeks ago.
For the producers of the steelmaking grade product, the prices are roughly the same: $375/mt for the export market, FOB port conditions, and $386/mt for the domestic market, FOB plant, ex-taxes but including PIS – Cofins levy.