On April 2, SteelOrbis reported ex-Brazil basic steelmaking pig iron offers to the US at $410-415/mt CFR.
Sources inform SteelOrbis that ex-Brazil offers for June shipments are now reportedly at $405-410/mt FOB Northern region or approximately $415-420/mt CFR, up $5/mt. Basic steelmaking pig iron offers are reportedly at $390-400/mt FOB Southern region. Due to higher freight charges from the southern region, prices translate to approximately $415-425/mt CFR.
The increase in prices is attributed to low pig iron supplies due to active local demand and strong steel prices in the US that “may have sellers maintaining high expectations.” Although with the recent slump in global raw material prices, a source noted that “US buyers are already placing downward pressure on pig iron offers.”