Export prices for Brazils merchant pig iron increased
this past week on a growing appetite from buyers in North
A 30,000-tonne cargo
was sold to a Mexican steelmaker at $415 per tonne c.f.r., up
1.7 percent from a similar deal closed last month at $408 per
tonne, sources told AMM sister publication Steel
The cargo from
producers in Brazils northern region of Carajás is
scheduled to be shipped in September in a Handymax vessel to
the Mexican port of Veracruz port. The price will be around
$395 per tonne f.o.b., up from between $380 and $390 per tonne
at the end of June in deals to the United States at $395 to
$400 per tonne c.f.r. New Orleans.
There have been no
reported transactions by Carajás producers with U.S.
buyers over the past two weeks, but sources noted that import
prices are higher in the United States.
"I think the price
level here is around $410 to $415 per tonne c.f.r.," one
U.S.-based trading source told Steel First.
producer agreed with the current upward trend. "Scrap prices
have recently increased in the U.S., so were a little
more optimistic now," he said.
low-manganese pig iron was recently sold to the United States
at $410 per tonne c.f.r., Steel First understands.
southeastern state of Minas Gerais, some producers sold a
23,000-tonne cargo to a U.S. steelmaker at $372 per tonne
f.o.b. two weeks ago. The cargo is scheduled to be shipped in
September to an East Coast port.
Minas Gerais producers
are now looking at prices between $375 and $385 per tonne
f.o.b., sources said.
A version of this article was first published by AMM sister
publication Steel First.