European purchases drive up Brazil’s pig iron price
Release Date:
2025-11-24
The Brazilian pig iron market enters the last week of November with an increase in export prices. The market has recovered almost $15/tonne, reaching $400-405/t.
Domestic suppliers have confirm to Kallanish that levels are moving up thanks to a growing appetite for material from the US and Europe.
“The price rose after more than a month of stability, and the situation seems to be improving for Brazilian producers,” says one trader. "We are seeing an increase in purchases from Europe, with greater interest from Italy.”
Demand from Germany has also heated the market, with two deals closed with a larger steelmaker last week at $405/t for January delivery. The general opinion is that, although these supplies are occasional, the Brazilian market is seeking new customers.
“Until now, sellers had the United States and Mexico as their preferred markets, but the situation looks changing with so many restrictions in North America. Brazilian suppliers see Europe as a good opportunity to sell their products before the rainy season and recover their profit margins, which were practically non-existent in recent agreements with the US customers,” a source observes, adding that there will be no Brazilian material available for export until mid-January.
Brazilian pig iron production rose month-on-month but was weaker year-on-year in October. Exports remained higher on both comparisons (see separate article).
From: Kallanish
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