BRASÍLIA: Brazilian pig iron export prices slipped again for May negotiations amid a dearth of overseas demand, sources said.
Bids, offers and deals for Brazilian pig iron assessed by Platts were confirmed by traders and producers in a range of $245-$270/mt FOB for May negotiations, compared with $245-$290/mt FOB in April.
Two sources said they heard sales from northern Brazil at around $268-$270/mt CFR Nola for July shipments.
Another source said he was offering the raw material at $245/mt FOB for Carajas-origin product.
“I am seeing a strong drop in the pig iron market, with no deals concluded and reduced exports,” said a fourth source. “I am offering pig iron to US at $240/mt FOB, but didn’t have luck to close deals.” Typical lead times for pig iron deliveries are 40 to 60 days, with transport from Brazil’s Carajas area to US ports taking about 12 days.
