On July 17, SteelOrbis reported that Brazilian producers were in negotiations and seeking to achieve deals at $360-370/mt CFR US port given the higher present global coking coal, scrap and iron ore prices.
According to a source, a recent deal to the EU was completed at $350/mt CFR Italy from the Southern Brazil region. This deal helped narrow down the active offers for ex-Brazil pig iron to the US. Basic steelmaking pig iron offers are presently at $350-360/mt CFR US Southern port from both the Southern and Northern Brazil regions.
While slightly less than the preliminary numbers at the negotiating table, this offer price is higher than the most recent deal which was estimated at $340-345/mt CFR US port from the Southern region and close to the most recent Northern region deal which was concluded at $360/mt CFR US port.