The Brazilian exports of pig iron have reached 350,400 mt in March against 191,000 mt in February, according to the foreign trade authority, SECEX.
The increase reflects a higher volume of exports to the US, apparently to arrive before the implementation of higher import tariff in the country.
Today, the Brazilian pig iron is subject to a 10 percent import tariff in the US.
The destinations for March were the US (282,300 mt at $403/mt), Europe (64,100 mt at $437/mt), Asia (2,400 mt at $491/mt), and South America (1,600 mt at $451/mt), FOB conditions.
The shipments were from independent producers in the southeastern state of Minas Gerais (280,400 mt), from the northern state of Pará (50,400 mt), and from the central-western state of Mato Grosso do Sul (19,600 mt).
Such prices were probably negotiated in January, with indications of the BPI grade price in the $360-500/mt range, and the foundry grade product price above $500/mt, FOB conditions.