According to sources close to SteelOrbis, the most recent ex-Brazil basic steelmaking pig iron deal was concluded in mid-June at $325/mt FOB Southern port which translated to $340-345/mt CFR US port.
Negotiations for northern basic pig iron are presently underway and are expected to trend down only slightly from the previous deal price in the region, but higher than the most recent FOB Southern port price. The most recent deals from the northern region were reported in late May at $360/mt FOB Northern port or $370/mt CFR US port. According to sources, negotiations in early July are revolving around $350-355/mt FOB which would translate to $360-365/mt CFR US port. The suppliers are expected to remain firm on pricing due to recent strength in global raw materials and, specifically, tight supply and continued high demand of prime grade scrap material in the US domestic market.