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The Brazilian export and U.S. import markets for pig iron remain firm, supported by bullish sentiment among suppliers.

Category: Blog

Time:2026-06-02

Brazilian export and U.S. import markets for pig iron remained firm, supported by bullish sentiment among suppliers. As of the week ending May 29, buoyed by supplier optimism, both Brazilian export and U.S. import pig iron markets stayed strong. For July shipment, deals in southern Brazil were struck at $530 per ton CFR, equivalent to roughly $500 per ton FOB—consistent with mid-May levels. Some suppliers and buyers continued to price the market at $515–$530 per ton CFR. This week, U.S. Gulf Coast pig iron imports were assessed at $515–$530 per ton CFR, unchanged from last week. One U.S. buyer noted that the market remains stable and could stay that way for some time, while scrap steel prices are also expected to trade sideways in June.

As of the week ending May 29, supported by bullish sentiment among suppliers, both Brazil’s pig iron export market and the U.S. pig iron import market remained firm. In southern Brazil, July‑delivery transactions were concluded at $530 per ton CFR, equivalent to roughly $500 per ton FOB—consistent with mid‑May levels. Some suppliers and buyers continued to quote the market in the $515–$530 per ton CFR range. This week, U.S. Gulf Coast pig iron import prices were assessed at $515–$530 per ton CFR, unchanged from the previous week. One U.S. buyer noted that the market remains stable and could stay so for some time, while scrap steel prices are also expected to trade sideways in June.

Some traders report that U.S. buyers are increasingly pressing to bring the prices of pig iron from their regular suppliers down to the level of Indian products. Indian pig iron is quoted at around $500–$505 per tonne CFR, with the latest deals in early May at $490 per tonne CFR. Brazilian suppliers, anticipating stronger European demand and a tightening supply of charcoal, are reluctant to cut prices. One Brazilian supplier noted that charcoal production requires logging several months in advance; when charcoal prices were lower, there was little incentive to harvest wood, resulting in a current shortage of raw materials. Negotiations with Italian buyers remain stuck at $535 per tonne CFR, equivalent to roughly $495 per tonne FOB Rio. This week, FOB prices for pig iron exports from Brazil’s ports of Vitória and Rio de Janeiro were assessed at $495–$500 per tonne, narrowing and edging higher compared with last week.

　　Although Brazilian pig iron enjoys a clear cost advantage over other suppliers under the CBAM framework, its sales to Europe remain uneven. Some distributors note that, with pig iron prices significantly above European hot‑pressed briquette levels, European buyers are seeking alternatives to hot‑pressed briquettes in order to reduce the share of pig iron in their smelting processes. Ukrainian pig iron is currently trading at $510–$520 per tonne CFR. This week, pig iron import prices on a CFR Italy basis were assessed at $510–$535 per tonne, up from last week’s range. Meanwhile, hot‑pressed briquette prices at Italian ports remained steady at $380–$400 per tonne CFR, with Libyan supplies quoted at $400–$405 per tonne CFR and Venezuelan sources at $380–$385 per tonne CFR. However, demand for European hot‑pressed briquettes remains volatile; one trader observed that while suppliers are raising their asking prices, no high‑priced deals have yet materialized. Consumption by end‑users in the EU is slowing markedly amid mounting cost pressures and uncertainty, potentially prompting steelmakers to scale back their smelting operations.

Keywords: The Brazilian export and U.S. import markets for pig iron remain firm, supported by bullish sentiment among suppliers.

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The Brazilian export and U.S. import markets for pig iron remain firm, supported by bullish sentiment among suppliers.

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