Both US scrap and pig iron sources report to SteelOrbis very “tight discretion and restraint on behalf of US raw material mills buyers” despite the increases in finished steel prices.
On March 8, SteelOrbis reported ex-Brazil basic steelmaking pig iron offers at $400-410/mt CFR US port (New Orleans). Sources inform SteelOrbis that US buyers recently placed bids at $375/mt CFR that have been rejected by the Northern producers. The offers translate roughly to $363/mt FOB Northern Brazilian port and approximately $25/mt less than present FOB offers from region.