On March 8, SteelOrbis reported basic steelmaking pig iron offers approximately at $400-410/mt CFR US port (New Orleans) while nodular pig iron is reportedly around $460-470/mt CFR US port (New Orleans), both for future orders. Around the same time, sources also informed SteelOrbis that several US offers sought to decrease prices with bids from basic pig iron from the northern region at $375/mt CFR US port.
Sources inform SteelOrbis that a cargo from the southern region was recently sold at approximately $385-387/mt FOB or about $410-415/mt CFR US port. Offers from the southern region are now at $390/mt FOB. Over the past two weeks, offer prices from the southern region have increased $30/mt from $360/mt FOB to $390/mt FOB now.
With the increase in the southern region, the northern region has also increased prices to $400-403/mt FOB to also offer at approximately $410-415/mt CFR US port.
With strong domestic demand along with strong demand from the US market for pig iron, prices are expected to remain strong into April, according to a source.