US pig iron, HBI buyers said waiting for cuts

Sep 24, 2012 | 12:51 PM | Juan Weik

Tags  HBI, hot-briquetted iron, pig iron, HBI prices, HBI export prices, pig iron prices, pig iron export prices, scrap substitutes Juan Weik

SÃO PAULO, Brazil — North American merchant pig iron and hot-briquetted iron (HBI) buyers have indicated that they won’t purchase any of the scrap substitutes if producers don’t lower their offers significantly.

Venezuelan HBI producers have been offering October shipments to the United States at some $290 to $295 per tonne f.o.b., but buyers are looking to pay much less, market participants told AMM sister publication Steel First.....

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