Brazil pig iron activity heating up for US buyers

There has been a resumption in pig iron activity in Brazil on the part of US-based steel mill buyers. Sources have confirmed there were two fresh deals concluded from South Brazil.

SMU spoke to a trader in the Brazilian market who said last week that a large channel in the Minas Gerais state sold a 55,000 metric-ton (mt) cargo to the US at a price of $460/mt FOB Vittoria/Rio. This was at the same price level as the previous cargo sold in late July after the tariffs were lifted. Our source commented, “Seems this number is prevailing for the time being.”

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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