Fresh ex-Brazil BPI sale to US at slightly higher price, but below target levels

Monday, 16 January 2023 17:04:46 (GMT+3)   |   Istanbul
       

Following a deal at $465/mt FOB to the US done in early January, Brazilian basic pig iron (BPI) suppliers have started submitting significantly higher offers. However, the uncertain outlook towards future developments and cautious signs of downtrend in the scrap segment have continued to hold global steelmakers back from active bookings. Nevertheless, by the beginning of the current week a fresh deal for ex-Brazil BPI has surfaced in the market. Accordingly, a 30,000 mt cargo, with shipment in late March has been sold to the US at $475/mt FOB. The prices is $10/mt higher compared to the level in the previous ex-Brazil BPI sale, but is around $20-30/mt lower than the levels initially targeted by a supplier. “The market is rather poor and uncertainty still prevails worldwide. Brazilians are turning bullish, as usual. However, I am afraid a lack of downstream demand will balance their sentiments,” an international trader stated.

The SteelOrbis reference for ex-Brazil BPI has edged up from the previous $465-475/mt FOB levels to $475-500/mt FOB, with the higher end of the range corresponding to the target levels voiced by Brazilian suppliers.


Similar articles

Ukraine’s Zaporizhstal completes first stage of BF No. 3 overhaul

29 Mar | Steel News

Ex-Brazil BPI exporters achieve slight rise in latest deals to US amid better scrap sentiment

28 Mar | Scrap & Raw Materials

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

Price gap between low and high-phosphorus Brazilian BPI narrows in last deals

25 Mar | Scrap & Raw Materials

German crude steel output increases by 4.6 percent in January-February

25 Mar | Steel News

Ukraine’s ArcelorMittal Kryvyi Rih posts lower pig iron output due to Russia’s attacks on energy infrastructure

21 Mar | Steel News

Buyers from Turkey and Italy seek lower ex-Russia BPI prices even though scrap lacks direction

20 Mar | Scrap & Raw Materials

Turkey’s pig iron imports up 5.0 percent in January

20 Mar | Steel News

China’s crude steel output up 1.6% in Jan-Feb despite unexpectedly weak post-holiday demand

18 Mar | Steel News

Ex-Brazil BPI market at standstill due to high prices for buyers, ex-Russia sellers under strong pressure

15 Mar | Scrap & Raw Materials