Merchant exporters of Pig iron based in Brazil are offering the material at quite low prices for shipment to be made in the mid of May.
Exports prices have slipped by $15/MT (4%) i.e. from $400/MT FOB quoted a couple of weeks before, to an average of $385/MT FOB now.
Both producers of Pig iron as well as traders have started offering inexpensive material with hopes to see some good demand from buyers, as it been constant.
Prices might weaken further in the months to come in order to stimulate demand and get rid of inventory.
In April, exports dropped by 2.7% M-o-M to a total of 274,972 MT, which stood at 282,517 MT in March.
In April, US imported 197,619 MT at $400/MT FOB i.e. 48,509 MT more from March when deals were concluded at $390/MT FOB.
And, Mexico purchased 149,110 MT of Pig iron at $405/MT FOB i.e. 1,100 MT more from March, when deals were closed at $400/MT FOB.
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