Brazilian pig iron exports reached 317,200 metric tons (mt) in October, down 6.6 percent from 339,700 mt in September, according to data from Secex, the foreign trade secretariat of the Ministry of Development, Industry, Trade and Services (MDIC).
The decline was mainly driven by weak shipments to the US and Europe, Secex said.
By destination, October shipments went to the US (174,700 mt at $452/mt), Europe (96,400 mt at $471/mt), South America (22,700 mt at $377/mt), Canada (19,700 mt at $441/mt), and Asia (3,700 mt at $552/mt), all on an FOB basis.
These prices likely reflect deals negotiated in August, when basic pig iron (BPI) was indicated below $470/mt and foundry-grade pig iron above that level.
Shipments came from producers in the southeastern state of Minas Gerais (236,200 mt), the northern state of Pará (45,400 mt), and the central-western state of Mato Grosso do Sul (35,600 mt).
