Exports of Pig iron from Brazil have moved up by 65% M-o-M in September 2013, to a total of 221,475 MT.
In August, a 134,013 MT shipment had taken place. Better demand for Pig iron resulted in an increase in export orders during the previous month.
On a Y-o-Y comparison basis, exports have weakened by 19% to a total of 274,824 MT shipment made in September 2012.
Major import countries of Brazil's Pig iron in September:
US = 154,107 MT at USD 378/MT FoB (in August 123,703 MT at USD 377/MT FoB) and Netherland = 46,550 MT (August was nil).
After an uptick in North Brazilian Pig iron prices in the beginning of September, they continue to remain unchanged.
Export deals for shipment to be made in the month in September and October shipment were quoted at USD 370-380/MT FoB.
Offers are heard to stand at a higher price at USD 410-415/MT FoB, for November shipment.
Pig Iron Demand Weakens in Italy
Buying volumes for Pig iron came down in Italy as users had enough stock available. Offers slipped by USD 5/MT to USD 400/MT CFR Italian Ports.
Buyers were willing to make purchases at USD 385-390/MT CFR North Turkey, to which sellers were not ready as Black Sea prices were at USD 375-380 FoB (Azov Sea), at USD 380/MT FoB (Black Sea) at USD 385/MT Mariupol.
Deals finally happened at USD 403/MT CFR Turkey in line with FoB prices.
CIS Pig Iron Demand Remains Poor
Weak demand for CIS Pig iron continues and buyers in North America were highly uninterested to place orders.
Pig iron takers in other regions bid quite low in the range of USD 365-368/MT FoB for Ukrainian Pig iron.
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