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    Analysis

    January 13, 2026

    Pig iron market gains steam

    Written by Stephen Miller

    The imported basic pig iron market has shown upward price movement over the last week.

    US-based steelmakers entered the Brazilian market and bought at least three full cargoes (150,000 metric tons) from the Southern regions. The price, according to our sources there, was $415/mt FOB Rio/Vitoria, Brazil. The prevailing ocean freight is $28-30/mt, which lands the material at US ports at $443-445/mt. Of course, these February shipments will face a 10% tariff unless the current rates are suspended or reduced.  

    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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