After a pause from offers, Brazilian suppliers of basic pig iron (BPI) have returned to the market, immediately succeeding in selling considerable volumes.
SteelOrbis has learned of two ex-Brazil BPI cargoes (60,000 mt each) booked to China at $343/mt CFR, with the FOB level being estimated at around $320/mt FOB. The material will be shipped in October. Longer lead times in comparison with ex-CIS BPI are partially offset by the price difference, market sources believe. According to sources, current ex-CIS BPI offers are not bellow $350/mt CFR China, but are still for September shipment.