Pig iron export price declines in Brazil

Monday, 10 December 2018 00:05:30 (GMT+3)   |   Sao Paulo
       

According to a Brazilian producer, the most recent deal for the export of steelmaking grade pig iron was closed at $350/mt FOB, while for the nodular grade product prices are currently in the $450/mt to $460/mt range FOB.

The average FOB price for pig iron (steelmaking and nodular grade) declined from $420/mt in October to $410/mt in November. Brazil exported 121,300 mt of pig iron in November, against 200,000 mt in October. With the exception of 33,500 mt of wire rod shipped from a producer in the northern state of Para, all the shipments were made by producers located in the southeastern states of Minas Gerais and Espirito Santo.

The US was the main destination (80,400 mt at $397/mt), followed by Taiwan (33,000 mt at $440/mt), Vietnam (2,300 mt at $431/mt), and Turkey (2,100 mt at $384/mt), all FOB conditions, while smaller tonnages were shipped to Latin American and EU countries.

Between January and November, Brazil exported 1.65 million mt of pig iron.


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