The Brazilian exports of pig iron have reached 555,100 mt in July, against 358,100 mt in June and 270,600 mt in May, according to the foreign trade authority, SECEX.
The increase is due to more shipments to the US, as companies anticipated higher import tariffs that were not implemented.
The destinations of July were the US (515,300 mt at $424/mt), Europe (36,700 mt at $451/mt), Asia (2,900 mt at $502/mt), and South America (200 mt at $502/mt), FOB conditions.
The shipments were from independent producers in the southeastern states of Minas Gerais and Espirito Santo (499,900 mt), from Pará, in the north (51,000 mt) and from the central-western state of Mato Grosso do Sul (4,200 mt).
Such prices were probably negotiated in May, with indications of the BPI grade price in the $406-470/mt range, and the foundry grade product price above $480/mt.