Merchant pig iron producers from Brazils northern
region of Carajás have closed an export deal with a
Mexican buyer at $408 per tonne c.f.r., a well-placed source
told AMM sister publication Steel First June
The cargo of some
30,000 tonnes will be shipped in a Handymax vessel to the port
of Veracruz, Mexico, in mid-July.
The buyer, a Mexican
steelmaker that was not identified, carried out a tender
process that also saw bids from Ukrainian producers, the source
told Steel First.
The transaction was
concluded at slightly less than $390 per tonne f.o.b., with a
freight rate of nearly $20 per tonne.
This is higher than
the $380 per tonne f.o.b. previously achieved in a sale to the
United States at the end of May.
producers now have available cargo for shipment only in
utilization rate has been below 30 percent for the past few
months, with some 140,000 tonnes of pig iron produced monthly,
Steel First has reported.
A version of this
article was first published in AMM sister publication Steel