Exports of pig iron by Brazilian independent producers reached 349,000 mt in October, 31 percent more than in September, according to the country’s ministry of development, industry and foreign trade, MDIC.
The average FOB export price, $403/mt, went up by 3.3 percent, pointing to the steelmaking grade product exported in a range of $367/mt to $397/mt, while the foundry grade product was exported between $433/mt to $456/mt.
The main destinations were the US (up 67 percent to 268,700 mt), Egypt (42,100 mt, the first significant shipment to that country in recent years), the EU (down 72 percent to 24,800 mt) and Asia (down 10 percent to 12,800 mt).
In the Brazilian domestic market, the pig iron of the foundry nodular grade is sold FOB full taxes between BRL1,280/mt and BRL1,310/mt ($502/mt and $514/mt), while the steelmaking grade is sold at the equivalent to $386/mt, FOB ex-taxes but including PIS Cofins levies.
$1 = BRL 2.55