Sources tell SteelOrbis that while Brazilian pig iron export volumes have not yet been affected by the Covid-19 outbreak in China, prices have declined from last week as clients in Europe are reportedly putting pressure on negotiations, mentioning lower prices available from other countries.
A recent export deal for steelmaking grade pig iron was closed at $315/mt, FOB conditions in a port in Southeast Brazil, for a 9,000 mt shipment, compared to negotiations in a range of $320/mt to $330/mt FOB last week.
For the nodular grade product, the negotiations are now in a range of $330/mt to $340/mt, against $360/mt to $370/mt last week, FOB conditions.
Preliminary figures are pointing to an increase in February from the 198,800 mt of pig iron exported from Brazil in January.
