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    October 24, 2025

    Pig iron market quiet as US mills aim to outwait Brazilian suppliers

    Written by Stephen Miller

    The pig iron market in Brazil has been fairly quiet since a US-based steelmaker bought two cargoes earlier this month, according to market participants.

    Recall SMU reported that two cargoes of 50,000 metric tonnes (mt) each were transacted at $383-385/mt FOB Brazil ($410-412/met CFR New Orleans without tariff).  Since then, there has been just one cargo sold for December shipment to the US at $385/mt FOB, they said.

    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.

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