A source from an independent pig iron producer told SteelOrbis that the last deal for the export of the basic product, steelmaking grade, was closed at $307/mt, CFR conditions to a port in the East coast of the US.
The source mentioned that a previous sale, to a customer in the south of Europe, was closed at $315/mt, also CFR conditions.
The source added that such prices have declined in average by 40 percent in two months, blaming excess supply, rather than low demand, for the downturn.
In September, Brazil exported 275,700 mt of pig iron, against 238,200 mt in August.
The main destinations of September were the US (135,300 mt at $321/mt), Turkey (39,200 mt at $319/mt), Mexico (31,300 mt at $313/mt), the Netherlands (19,900 mt at $400/mt), Taiwan (18,500 mt at $356/mt) and Indonesia (17,900 mt at $300/mt), all FOB conditions, different quality grades and price deals probably closed in July.
