The Brazilian exports of pig iron have reached 288,400 mt of pig iron, against 555,100 mt in July, according to the foreign trade authority, SECEX.
The decline is because companies shipped August volumes to the US in July to avoid tariffs that were ultimately not imposed.
The destinations of August were the US (down by 60 percent from July to 196,500 mt, at $403/mt), Europe (45,400 mt at $437/mt), Argentina (44,000 mt at $351/mt), and Asia (2,400 mt at $502/mt), FOB conditions. A small volume was exported to Australia.
The shipments were from independent producers in the southeastern states of Minas Gerais and Espirito Santo (175,700 mt), from Pará, in the north (59,000 mt) and from the central-western state of Mato Grosso do Sul (53,700 mt).
Such prices were probably negotiated in June, with indications of the BPI grade price in the $406-470/mt range, and the foundry grade product price above $490/mt.
