Brazilian BPI exporters target $400/mt FOB for January, no success so far

Friday, 21 November 2025 18:06:56 (GMT+3)   |   Istanbul

Brazilian basic pig iron (BPI) suppliers have been targeting higher prices for January shipment, seeing some stable to firm sentiments in the US and following the weak performance in previous months.

Most offers are at $400/mt FOB, up by $10-15/mt from the previous reference price, and one deal was reported a week ago. Overall production plans for December are reduced, so switching to January shipment offers exporters are going to improve their profitability, especially after the lows seen in October. “Whether they [producers] will succeed, we shall see. I do not expect activity in near future,” a Brazil-based source said.

The new offer level translates to $425/mt CFR or above to the US, but market sources believe that importers are not ready to pay above the previous $410-415/mt CFR for pig iron with 0.15 percent phosphorus content, at least for now.

The SteelOrbis reference prices for ex-Brazil BPI have widened to $385-400/mt FOB with the midpoint at $392.5/mt FOB, up by $5/mt on average over the past week.

AnastasiaKononenko
Anastasia Kononenko
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I hold a Bachelor's degree in Journalism and Economics from Oles Honchar National University in Ukraine. I have 15 years of experience in the steel media industry, including the past seven years at SteelOrbis, where I lead the Market Intelligence team responsible for coordinating coverage of Asian steel and raw material markets. My areas of expertise also include global markets for billet, slabs, pig iron and HBI, with a focus on market analysis and industry trends.

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