A source from a pig iron producer in the north of Brazil told SteelOrbis that steelmaking grade pig iron export prices have declined slightly in the last month, with sales to the US East coast at $372/mt, CFR conditions, compared to $380/mt CFR a month ago. The decrease reflects reduced demand in the US.
Overall, sources were expecting increased prices due to the reduced availability of pig iron in the northern states of Para and Maranhao. The supply issues have also resulted in a limited number of exports outside the US.
Elsewhere, a producer in Minas Gerais state recently sold steelmaking grade pig iron to Mexico at $360/mt, FOB port. Another producer sold foundry nodular grade pig iron to the Netherlands in a range $398/mt to $418/mt FOB, to India in containers at $409.50/mt FOB, and to Japan at $395.50/mt.
In April, Brazilian independent pig iron producers exported 150,000 mt of the product at an average FOB price of $307/mt, FOB conditions, with price deals probably closed in March.