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Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $445-450 per tonne on Friday, up from $420 per tonne a week before.
A sale to the United States was heard at $465 per tonne cfr, while the fob-basis price was reported at $445-450 per tonne.
Several sources put offer prices from Brazil at $450 per tonne fob.
“The price will go up further,” one international trader predicted, noting that the rate for fob Black Sea material is close to $500 per tonne. The fob Black Sea route is the main shipping route for pig iron exports from the Commonwealth of Independent States – the main competitor of Brazilian slab exporters.
“Normally, fob-basis prices from the south of Brazil and [from the] Black Sea are more or less equal; that means that the export price from Brazil has room to grow,” that trader added.
Meanwhile, the price assessment for pig iron, export, fob Ponta da Madeira, Brazil was $457-467 per tonne on Friday, up from $442 per tonne a week earlier.
That assessment was up in line with further price growth in the United States – the key outlet for the main supplier from the north of Brazil.