Prices
Brazilian pig iron sellers OK lower prices
Written by Stephen Miller
June 23, 2025
The resistance Brazilian pig iron sellers had shown to accepting lower prices has proved short-lived, sources told SMU.
Earlier this month, we reported a sale of pig iron was concluded from south Brazil at a price of $401 per metric ton (mt) FOB ($430/mt CFR US port). We also heard from a source in Brazil several other potential sellers had reservations about accepting this lower price level.
Our recent information is indicating this resistance didn’t last long. A large channel did sell a cargo to an American consumer two weeks at a price of $396/mt FOB, which was still lower than the previous sale. Both of these transactions were higher Phos (P .15% max) material.
SMU has learned there has been a cargo sold to the US from northern Brazil at an unconfirmed price of $450/mt CFR. The northern Brazilian cargo was a lower Phos (P .10% max) cargo. This is theoretically a $10/mt increase.
So, what is the feeling on the part of Brazilian producers as we head into July for shipment in August?
SMU contacted two sources in Brazil to get a glimpse of their expectations. One executive for a large seller said the market has been quiet in south Brazil for the last two weeks. He is expecting the next round of sales to the US will be higher. They should start negotiations soon.
The second source said the producers are hoping the US scrap market will improve. This would result in a higher price for August pig iron sales. However, a rise in the US scrap market in July a quite speculative at this point.
The US has been receiving pig iron from Ukraine on a regular basis in 2025. This is all lower Phos (P .10% max) material. As previously reported by SMU, April export records show 115,000 mt of pig iron were sent to the US. This brought Ukrainian pig iron exports to the US to 476,000 mt in January through April.
The May and June statistics have not been released, but it is a safe assumption that shipments to the US have been ongoing. SMU will publish the quantities once they are available.
Stephen Miller
Read more from Stephen MillerLatest in Prices
Price gap between US HRC, most imports narrows slightly
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
SMU price ranges: Sheet ticks higher, plate stable
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor lifts HR spot price by $10/ton
Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.
Atlas Tube up $50/ton following NLMK USA sheet price hike
Atlas Tube, in a leading move, said it aims to increase prices for mechanical tubing, hollow structural sections (HSS), and piling products by at least $50 per short ton (st).
Pig iron market quiet as US mills aim to outwait Brazilian suppliers
US buyers want to drop pig iron prices to levels commensurate with the decline in prime scrap in their domestic market. Prime price shed $20 per gross ton (gt) in September and another $20/gt in October.