The Brazilian exports of pig iron have reached 460,100 mt in October, against 295,300 mt in September, according to the foreign trade authority, SECEX.
The main reason for the increased volume is that shipments to the US rose by 53 percent.
The destinations of October were the US (350,900 mt at $394/mt), Europe (75,000 mt at $427/mt), South America (31,800 mt at $308/mt), Asia (1,900 mt at $495/mt), and Mexico (500 mt at $540/mt), FOB conditions.
The shipments were from independent producers in the southeastern states of Minas Gerais and Espirito Santo (397,000 mt), from the central-western state of Mato Grosso do Sul (42,400 mt), and from Pará, in the north (20,700 mt).
Such prices were probably negotiated in August, with indications of the BPI grade price in the $303-422/mt range, and the foundry grade product price above $490/mt.