Exports of Pig iron from Brazil came down in the month of August and it has continuously dropped from the beginning of FY 14, as compared to the similar period during last fiscal.
In the month of August, a total of 134,013 MT of Pig iron was exported from Brazil and has weakened by 8% in comparison to August 2012 because of poor demand for the material.
Southeast Brazil (Minas Gerais) based Pig iron manufacturer recently closed a deal for 50,000 tonnes at USD 405/MT CFR and in the beginning of November the material would be shipped to the Port of New Orleans.
CIS Pig Iron Offers remain Stable
Pig iron prices in the CIS witness no change in the last 10 days and are standing at USD 380/MT FoB Black Sea.
In the beginning of September, CIS Pig iron prices went up by USD 5/MT after a month's time, but failed to sustain at high levels as buying continued to be weak.
Mid-Autumn holidays in China from 18-20 September and national holiday in the first week of October, have resulted in limited trades of Pig iron.
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