According to market sources, US import pig iron prices are firming up due to domestic scrap market conditions and an unplanned maintenance outage at Nucor’s DRI plant that is anticipated to run into mid-March.
On February 27, pricing on basic steelmaking pig iron has moved up to $350/mt New Orleans (NOLA) and foundry has moved up to $390/mt New Orleans (NOLA) for new material being purchased from Brazil. Pricing for basic pig iron has moved up $15/mt from offers of $335/mt NOLA being heard the week ended February 24.