Brazilian pig iron prices hit $480/tonne

Dec 29, 2010 | 12:40 PM | Juan Weik

Pig iron producers in Brazil's southeastern Minas Gerais state closed two export deals at $475 to $480 per tonne f.o.b. after several weeks out of the market, while companies in the northern region of Carajás have refused bids as high as $500 per tonne, according to producers and trading sources.

One of the Minas Gerais transactions was for 35,000 tonnes of pig iron sold at $475 per tonne to a trading company taking long-term positions reportedly looking to purchase more material to fill a 50,000-tonne vessel expected to sail to the United States in March.....

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