Brazilian exports of pig iron dropped 24 percent to 287,000 metric tons (mt) in March, against 377,800 mt in February, and 407,700 mt in January, according to data from SECEX, Brazil’s foreign trade secretariat of the ministry of development, industry and foreign trade.
March's drop from February was mainly due to a 26 percent decrease in shipments to the US.
The destinations in March were the US (247,500 mt at $402/mt), Europe (35,700 mt at $431/mt), Asia (3,600 mt at $497 mt), and South America (200 mt at $733/mt), FOB conditions.
Such prices were probably negotiated in January, with indications of the BPI grade price below $430/mt, and the foundry grade price above that level.
The exports were from Brazilian producers in the southeastern states of Minas Gerais and Espírito Santo (174,900 mt), from Pará, in the north (77,900 mt) and from Mato Grosso do Sul, in the central-western region (34,200 mt).
