Brazilian pig iron export prices edge higher

Issued at 2018-01-28

Prices in the Brazilian pig iron export market ticked up to end the week as both sellers and producers reported higher indications, although transactions were limited.

S&P Global Platts assessed the weekly Brazilian export basic pig iron price up $5 on Friday to $372.50/mt FOB, southeastern ports, based on a range of $370-$375/mt, from $365-$370/mt FOB last week.

"The last concluded deal was a week ago at $375/mt FOB to Mexico," a trader said. "I haven't heard any concluded deals this week but looks like there are ongoing negotiations for the US at this price level." 

Another source who had his last negotiation in December saw the current tradeable level at around $370/mt FOB, but did not believe prices could go up much further than this.

Italian buyers cited a trader offering 46,000 mt of Brazilian material at $380/mt CIF.

The general sentiment pointed to a slowdown in talks, due to the coming Carnival season in the second week of February. 

--Priscilla Antunes,

--Edited by Lisa Miller,

Source: Platts