On January 24, SteelOrbis reported ex-Brazil basic pig iron offers to the US at $400-405/mt CFR. The price reflected offers at approximately $390-395/mt FOB Northern Brazilian port and $370-375/mt FOB Southern Brazilian port.
Sources inform SteelOrbis that while pig iron offers from the northern Brazilian region remain stable, southern region offers have widened by $5/mt on the top of the previous range and are presently at $370-380/mt FOB.
A US-based source noted that $400/mt CFR US is considered too high for US buyers at the moment, given the recent softness in global scrap prices along with the potential for some softening in US domestic prime grades, including busheling, in the US domestic scrap market in February. Although, shredded and other grades are not expected to soften inland and only in the coastal regions on export effect.