Having appeared to lack clarity as regards the future, some basic pig iron (BPI) suppliers have continued to accept lower bids from US customers, with the latter being practically the only buyers in the market currently.
Accordingly, SteelOrbis has learned of a fresh booking of 55,000 mt of ex-Brazil BPI with 0.15 phosphorus content, done by a major US steelmaker at $620/mt FOB southern Brazilian ports, for August shipment. According to market players, the CFR price is assessed at about $655/mt CFR Port of New Orleans.
Prior to this booking, at least two ex-CIS BPI cargoes were booked in the US at $665/mt CFR Port of New Orleans about ten days ago.