Brazilian prices for pig iron rise to nearly $350/T

Dec 05, 2007 | 02:36 PM | Diana Kinch

Upward pressure on export prices for Brazilian pig iron has continued this week following an increase of around $8 a tonne f.o.b. in new orders taken last week, traders said.

New sales have taken place at $330 per tonne f.o.b. for shipment from Vitoria and Rio de Janeiro, up from $322 to $328 previously, while sales from Ponta da Madeira in northern Brazil have taken place at $338 to 345 a tonne f.o.b., up from $335 to $338.

Carbofer General Trading SA, Lugano, Switzerland, and the Cargill Ferrous International unit of Cargill Inc., Minneapolis, were both said to have purchased 25,000-tonne lots to complete cargoes from Rio last week at $330 a tonne f.o.b. The pig iron was supplied through export groups Ironminas and Minas Metais Exportadora SA, respectively. ....

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