On March 17, SteelOrbis reported basic steelmaking pig iron trading at $360/mt FOB Northern Region to US.
According to sources, new foundry grade pig iron prices in Brazil are at $390/mt FOB Rio which translates to $410/mt CFR NOLA. This prices reflect an increase of $20/mt at the bottom of the range and $10/mt at the top of the range against foundry prices reported at $390-400/mt CFR NOLA on March 8.
The increase in prices from Brazil are a result of limited supply from the CIS region being available to the US, tight supplies in Brazil, and high demand for scrap alternatives, especially prime scrap grades in the US.