Sources inform SteelOrbis that ex-CIS basic steelmaking pig iron offers to the US are presently at $405-412/mt CFR US port. Compared to $400-420/mt CFR reported on May 11, prices increased $5/mt from the bottom of the previous range and tightened down $8/mt from the top of the previous range.
Offers from the northern Brazil region to the US are reportedly at $393-400/mt FOB or about $405-415/mt CFR US port. Compared to $400-410/mt FOB from the region reported by SteelOrbis on May 11, prices have softened $7/mt from the bottom of the previous range and $10/mt from the top of the same range.
Sources report that worker protests in ArcelorMittal’s pig iron production site in Ukraine, along with strong domestic demand in Brazil, “will keep available pig iron for export tight and, therefore, likely support prices at present levels to the US.”