A source from an independent pig iron producer in the Brazilian southeastern state of Minas Gerais told SteelOrbis that he is closing deals for the export of the steelmaking grade product in a range of $330/mt to $335/mt, against $315/mt to $325/mt one month ago.
The price refers to CFR conditions in a port in the US East coast, with the difference reflecting higher FOB prices and roughly stable freight rates.
In December, Brazil exported 320,600 mt of pig iron, against 250,000 mt in November.
The destinations were Asia (172,900 mt at $277/mt, of which 139,900 mt at $274/mt to China), the US (115,800 mt at $287/mt), the EU (30,800 mt at $260/mt), Argentina (600 mt at $496/mt) and Australia (500 mt at $359/mt), all FOB conditions, different quality grades and price deals probably closed in October.