The Brazilian exports of pig iron have reached 354,100 mt in November against 460,100 mt in October, according to the foreign trade authority, SECEX.
The main reason for the decline was less shipments to the US.
The destinations of November were the US (289,100 mt at $384/mt), Europe (36,800 mt at $390/mt), Mexico (24,700 mt at $399/mt), Asia (3,400 mt at $490/mt), and Argentina (100 mt at $510/mt), all FOB conditions.
The shipments were from independent producers in the southeastern states of Minas Gerais and Espirito Santo (246,800 mt), and from Maranhão and Pará, in the north (107,300 mt).
Such prices were probably negotiated in September, with indications of the BPI grade price in the $380-400/mt range, and the foundry grade product price above $400/mt.
