Brazil pig iron fetches higher price from US mill
Dec 17, 2009 | 12:01 PM
| Michael Marley
Pig iron producers in northern Brazil have sold two Panamax cargoes of iron to a major U.S. mini-mill for $360 a tonne, with one cargo to be delivered to an East Coast port and the other to New Orleans, U.S. industry sources said.
That price is up about $20 a tonne from previous sales of pig iron and a recent sale from an eastern European merchant iron producer at $350 a tonne delivered to New Orleans.
One U.S. iron trader said the production of pig iron in Brazil plunged to about 30 percent of capacity earlier this year as the U.S. steel industry's operating rate sank to around 40 percent, and left mills with the opportunity to buy more scrap and avoid alternatives like pig iron and hot-briquetted iron.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.