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The export market price for Brazilian billets continues to rise. In February of this year, iron ore exports surged 12.5% year-on-year, with the average price climbing to US$73.4 per tonne.

Category: Blog

Time:2026-03-11

According to customs data released on March 10, Brazil’s iron ore exports in February 2026 totaled 28.48 million tons, representing a substantial year-on-year increase of 12.5% compared to 25.32 million tons in February 2025. Compared with the 28.54 million tons exported in January 2026, February’s export volume remained virtually unchanged month-on-month. This week, Brazilian billet export prices continued to rise. On March 6, billet export prices were assessed at USD 550–565 per ton (FOB), up USD 15 per ton from USD 535–550 per ton on February 27, continuing the upward trend that has been in place since November 2025. Market sources report that after roughly three weeks with virtually no new supply, Brazilian steel mills have resumed issuing bid offers, driving the market price center of gravity higher.

　　According to customs data released on March 10, Brazil’s iron ore exports in February 2026 totaled 28.48 million tons, representing a substantial year-on-year increase of 12.5% compared to 25.32 million tons in February 2025. Compared with 28.54 million tons in January 2026, February’s export volume remained virtually unchanged month-on-month. This week, Brazilian billet export prices continued to rise. On March 6, billet export prices were assessed at USD 550–565 per ton (FOB), up USD 15 per ton from USD 535–550 per ton on February 27, continuing the upward trend that has been in place since November 2025. Market sources report that after roughly three weeks with virtually no new supply, Brazilian steel mills have resumed issuing bid offers, driving the market price center of gravity higher.

　　A source at a steel producer said that steel mills resumed releasing slab quotes to the market this week, but no new deals have been struck so far. “The quotes were just released— we’ll need to see whether the market accepts them.” Several traders also confirmed that some steel mills are testing higher price levels in an effort to gauge market receptiveness.

　　From a demand structure perspective, the United States is still regarded as the market most likely to absorb higher prices. However, market participants point out that, against the backdrop of U.S. tariffs on Brazilian steel, steel mills’ willingness to accept high-priced raw materials remains uncertain. At the same time, U.S. hot‑rolled coil prices have continued to rise, providing support for slab prices. Data show that hot‑rolled coil prices in the U.S. Midwest recently surpassed USD 1,000 per short ton, reaching a new high in more than two years and exerting a clear upward influence on steel prices across the Americas.

　　In contrast, current Brazilian slab prices are relatively less competitive in the European market. However, market participants note that European demand remains robust, largely because ArcelorMittal is diverting substantial volumes of Brazilian‑produced slabs to its rolling mills across Europe, thereby reducing external supply and reinforcing expectations of a tight market supply situation.

　　Earlier market reports indicated that European steel mills have recently purchased more than 300,000 tons of Brazilian billets. Some European steel mills have chosen to roll imported billets rather than increase their own steel production, owing to the rising cost pressures associated with carbon emissions under the European Union’s Carbon Border Adjustment Mechanism (CBAM). According to customs data, in January 2026, the EU imported approximately 318,000 tons of Brazilian billets, with the majority flowing to countries such as Belgium, Poland, France, Spain, and Germany.

　　However, it’s worth noting that some previously concluded Brazilian billet deals were priced in the range of USD 450–479 per tonne (CIF Europe), which is significantly lower than current market quote levels. Overall, supported by both tightening supply and robust demand, Brazilian billet export prices continue to strengthen; however, whether the latest round of high-price offers can be translated into actual transactions remains to be seen and will need to be further verified by the market.

Keywords: The export market price for Brazilian billets continues to rise. In February of this year, iron ore exports surged 12.5% year-on-year, with the average price climbing to US$73.4 per tonne.

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The export market price for Brazilian billets continues to rise. In February of this year, iron ore exports surged 12.5% year-on-year, with the average price climbing to US$73.4 per tonne.

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