Exports of pig iron by Brazilian independent producers reached 135,800 mt in November, 61 percent less than in October, at an average FOB price of $388/mt, 4 percent lower, according to the country’s ministry of development, industry and foreign trade, MDIC.
The steelmaking grade product was traded in a price range of $336/mt to $392/mt, against $367/mt to 397/mt in October, while the foundry grades were traded in a price range of $402/mt to $485/mt, compared to $433/mt to $456/mt in October.
In the country´s domestic market, the steelmaking grade product is sold at BRL830/mt ($327/mt) ex-works no taxes but including PIS Cofins levies, while the foundry nodular grade is sold at BRL1,278/mt ($508/mt), ex-works Pis Cofins levies and all taxes included except IPI, both prices stable in three weeks.
The reduced volume exported in November reflects chiefly sales to the US reduced by 86 percent to 38,000 mt, while sales to the EU went up by 166 percent to 66,000 mt and sales to Asia went up by 138 percent to 30,500 mt.
A major producer told SteelOrbis that the producers of the foundry grade product remain operating close to 100 percent of their capacities, while the producers of the steelmaking grade seem to be losing the US market to Russian competitors and operate now at less than 30 percent of their capacities in average.