Brazilian exports of pig iron were reported at 244,400 metric tons (mt) in August, against 342,100 mt in July, according to Brazil's foreign trade secretariat, SECEX, of the ministry of development, industry and foreign trade.
The decline was mainly driven by a 53 percent decrease in shipments to the US from July's unusually high import level, when it was still unclear whether Brazilian pig iron would be exempt from the higher US tariffs, a US tariff waiver that was ultimately granted.
The destinations in August were the US (135,700 mt at $486/mt), Italy (103,100 mt at $483/mt), Asia (5,500 mt at $574 mt), and Argentina (100 mt at $564/mt), FOB conditions.
Such prices were probably negotiated in June, with indications of the BPI grade price below $500/mt, and the foundry grade price above that level.
The exports were from producers in the southeastern states of Minas Gerais and Espírito Santo (203,800 mt), Pará, in the north (22,800 mt), and from Mato Grosso do Sul (17,800 mt), in the central-western region.
