Brazilian pig iron exports rise in May as shipments to Europe resume
Brazilian pig iron exports reached 280,200 metric tons (mt) in May, against 267,200 mt in April, according to the foreign tradesecretariat SECEX, of the ministry of development, industry and foreign trade. The increase reflects chiefiy the resumption ofexports to Europe.
The destinations in May were the US (161,200 mt at $444/mt), Europe (86,400 mt at $438/mt), Mexico (27,300 mt at $438/mt,Asia (5,000 mt at $531 mt), and South America (300 mt at $523/mt), FOB conditions.
Such prices were probably negotiated in March, with indications of the BPI grade price below S475/mt, and the foundry grade priceabove that level.
The exports were from producers in the southeaster states of Minas Gerais and Espirito Santo (274,700 mt), and from MatoGrosso do Sul (5,500 mt), in the central-western region.
From: Steel Orbis
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