On November 7, SteelOrbis reported ex-Brazil basic steelmaking pig iron offers to the US at $360-365/mt CFR US port. In FOB terms, offers were approximately at $345-350/mt FOB Northern Brazil.
Sources inform SteelOrbis that basic steelmaking pig iron offers from Brazil have now climbed to $375-390/mt CFR US port. The updated offer range has increased $15/mt from the bottom of the previous range and $25/mt from the top of the same range. Basic pig iron offers have reportedly increased to approximately $365-375/mt FOB Northern Brazil port.
A source noted that due to market uncertainty, he is unsure of trades on the high end of the range. Also, he added that rumors abound of some ongoing negotiations that will help guide tradeable prices possibly closer to $370-375/mt CFR.