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    Analysis

    February 10, 2026

    Miller on Pig Iron: Brazilian market hums with activity

    Written by Stephen Miller

    There has been some recent activity of exports of basic pig iron from Brazil. Sources there agree on the activity but diverge on the pricing. What is new to the market in Brazil is the buying interest from the European Union, Italy in particular.

    Prior to 2022 when the Russian-Ukrainian conflict began, Russia and Ukraine pig iron imports to the US played a large role in the US market. The balance came from northern Brazil, despite the southern regions of Brazil producing more than three times the quantity of the North.

    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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