Pig iron market outlook cloudy

The pig iron market in Brazil is currently in flux and there have been few, if any, confirmed cargoes transacted for the US.

According to sources in Brazil, the US-based pig iron buyers are attempting to buy at prices under $390 per metric ton (mt) FOB S. Brazil. The US mills are trying to mitigate the extra costs of the 10% tariff and point to a $20 per gross ton (gt) drop in domestic prime scrap prices, as justification.

Stephen Miller

Stephen Miller started his career in the scrap metal industry in 1978 at Luria Brothers in Cleveland. Over the last 40-plus years, he has worked in all capacities in the trading business. He has had positions in both domestic and international scrap trading. In addition to scrap, Miller was at the forefront of the pig iron trade and established a pig iron distribution company under the name of Ferrosource, Inc. Most recently, Miller has concentrated on the scrap export market and regularly does consulting for several companies in the industry.

Stephen Miller

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