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    January 10, 2025

    CRU: Renewed availability of Russian pig iron weighs on global prices

    Written by Brett Reed

    Pig iron prices declined in all regions as the EU’s 2025 import quota on Russian pig iron has begun, loosening global supply. In the US, lower-priced imports from India forced Brazilian producers to reduce prices to secure business.

    US pig iron prices declined $30 per metric ton m/m to $430/mt CFR NOLA in January. Lower-priced imports from India continued to enter the market as soft demand in South Asia and the strengthening USD made the US an attractive export destination. In response, Brazilian exporters lowered export prices by $25/mt m/m to $430/mt and $400/mt FOB for the Northern and Southern markets, respectively, to secure business. Brazilian producers have also cut production amid soft demand and falling prices.

    Brett Reed

    Read more from Brett Reed

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