According to a local regional exporter close to SteelOrbis, independent pig iron producers in Northern Brazil have recently concluded basic steelmaking pig iron grade deals for export at $372/mt, CFR conditions, a figure translating into $362/mt, FOB conditions, considering freight costs to the US, the main destination, at $10/mt.
The source mentioned that there is an increased demand for the product from different world regions, a fact reflected by the exports of July, which increased by 40 percent from June to 226,100mt, at an average FOB price which increased by 3.1 percent to $359/mt, FOB conditions.
The main destinations were the US (147,500 mt), Latin America (48,000 mt, of which 42,100 mt to Mexico) and the EU (27,300 mt).