Despite Brazilian pig iron export volumes increasing 63.90 percent to 236,952 mt in February 2017 compared to 144,566 mt in the same month the prior year, Brazil pig iron exports declined 2.7 percent in March 2017. According to the MDIC, March 2017 shipments totaled 212,578 mt while 218,555 mt were shipped in March 2016.
In March 2017, pig iron shipments from the northern region accounted for 91,699 mt (43 percent) while 120,879 mt (57 percent) were shipped from the southern region. In March of the previous year, the northern region accounted for 83,551 mt (38 percent) while the southern region accounted for 135,004 mt (62 percent).
Despite the 2.7 percent decline in Brazilian pig iron exports in March, the US market, which accounted for 54.7 percent of the country’s total pig iron exports, increased its imports of ex-Brazil pig iron both against the previous month figures and year-on-year. In February 2017, the US imported 106,137 mt of ex-Brazil pig iron while it imported 116,271 mt in March 2017. The March 2017 US market figure represents an increase of 9.5 percent over February 2017 and an increase of 94.1 percent against the 59,893 mt of pig iron exported to the US from Brazil in March 2016.
According to a source close to SteelOrbis, US demand for pig iron from Brazil is expected to continue strong into April, May, and June.