Despite doubts regarding the firming up of global prices for basic pig iron (BPI) and in particular for ex-Brazil BPI, one Brazil-based seller has succeeded in achieving its targeted price in a recent booking.
Accordingly, a 30,000 mt cargo of ex-Brazil BPI for January shipment was booked to Mexico at $395/mt FOB. The CFR price is estimated at $413-415/mt CFR, with freight being assessed at $18-20/mt. Prior to this deal, Brazil-based suppliers had sold BPI to China at $375/mt FOB, as SteelOrbis reported earlier. “China is firm with its buyers’ prices largely at $410/mt CFR [FOB price is estimated at $383/mt with freight being estimated at $27/mt]. However, Brazilian producers still insist on higher numbers,” a Brazil-based seller said.