According to sources, the recent higher ex-Brazil basic steelmaking pig iron deal to Italy has also increased basic pig iron offer prices to the US.
A cargo of basic pig iron was traded to the US in early August at $330/mt FOB Southern Brazilian port or approximately $350-352/mt CFR US port. Compared to the US deal two weeks ago, the recent Italian deal increases the FOB trading level by $20/mt. Offer prices for basic steelmaking pig iron are at $350-360/mt FOB Southern Brazil or $370-380/mt CFR US port. This CFR offer price level has increased by $20/mt compared to the $350-360/mt reported by SteelOrbis on August 7.
A deal for $350/mt FOB Northern Brazil or $360/mt CFR US port was also reported as having concluded earlier in August. According to sources, Northern Brazil basic pig iron is expected to move up in deals this week.