Despite the lingering uncertainty in the US steel market and extremely low capacity utilization rates, local steel mills have remained active in basic pig iron (BPI) imports in order to secure future requirements. In particular, the US-based producers have been aiming to compensate for reduced domestic supplies of prime scrap, resulting in particular from widespread shutdowns of automotive manufacturing companies.
According to sources, a total 150,000 mt of pig iron for June-July production have been recently traded to the US from Ukraine at $305-317/mt CFR depending on the port of discharge. In the second half of April, the latest ex-CIS deals were closed at $298-305/mt CFR.
Suppliers from Brazil have also been active. Earlier this week, the US booked a 23,000 mt cargo of BPI with 0.15 percent phosphorus content at about $290-295/mt CFR, as SteelOrbis reported earlier.