A source from an independent pig iron producer in the southeast of Brazil told SteelOrbis that the steelmaking grade product is currently exported at an average of $345/mt, FOB conditions, against $314/mt FOB one month ago.
He added that he has recently closed a deal to export pig iron of the foundry grade to the EU at $400/mt, also FOB conditions, against $340/mt in early February.
The source mentioned that increased prices and volumes exported from Brazil reflect reduced production of pig iron in Eastern Europe, due to energy problems.
In February, the Brazilian exports of pig iron increased from January by 113 percent to 237,000 mt, at an average FOB price increased by 7.2 percent to $296/mt, FOB conditions, price deals probably closed in the December 2016 – January 2017 period. The main destinations were the EU (109,700 mt at $285/mt), the US (106,100 mt at $306/mt) and Turkey (8,300 mt at $287/mt), all FOB conditions.