By the end of the current week, two new ex-Brazil basic pig iron (BPI) deals have surfaced in the market, with the prices being expectedly lower. Accordingly, one cargo of ex-Brazil BPI, with 0.15 phosphorus content has been booked to the US at $565/mt CFR Port of New Orleans. Given the current freight at around $30-35/mt, the FOB price is at least $25/mt below the initial targets. Concurrently, a Brazilian supplier has managed to sell another cargo of BPI, with 0.10 phosphorus content at $575/mt CFR Port of New Orleans. Both deals have been done for 35,000 mt cargoes, with June shipment each. “Mills did not succeed in pushing prices higher. Prices have corrected in line with expectations and set to come down further,” an international trader commented with regard to the above-mentioned sales.