Pig Iron trades in both domestic as well as exports market of South Eastern Brazil has not been good.
Producers hold offers for exports purposes looking at less buying interest and low scrap offers in other countries.
In the state of Minas Gerais of South Eastern Brazil, Pig Iron prices stand at $430-450/MT FOB.
Sellers have been able to conclude deals at low prices, in the range of $370-380/MT as buyers prefer not to meet with high inventory levels later on.
In view of the current scenario, Pig Iron prices are anticipated to show no changes for a couple of months.
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