Published by: Marina Shulga<>
17 Mar 2025 @ 17:23 UTC

Import pig iron prices in the US went up during the week ended Friday March 14 on a rise in the steel scrap market and higher offers prices, Fastmarkets has heard.

Suppliers’ price ideas went up to $490-500 per tonne CFR for both Ukraine- and Brazil-origin pig iron. The latest bookings were agreed at $470 per tonne CFR in early March.
Based on higher scrap prices, higher offers make sense, but I have heard nothing close to that yet, one buyer in the US said. Scrap [prices were] settled very late [in March], and the [International Iron Metallics Association meeting] is coming up, so no activity took place in the market this past week.
The twice-yearly IIMA members’ meeting usually gives more clarity on future price trends, according to market sources. The next meeting will take place on March 24-26 in San Sebastian, Spain.
Fastmarkets’ monthly assessment of the steel scrap No1 busheling consumer buying price, delivered mill Chicago, a strong indicator for the pig iron market in the US, was $480 per gross ton on March 12, up by $30 per gross ton from February 10.
Estimates of the workable price were mostly in the range of $480-485 per tonne CFR.
The weekly price assessment for pig iron, import, cfr Gulf of Mexico, US, was $480-485 per tonne on Friday, up by $15 per tonne from $465-470 per tonne the week before.
And the price assessment for pig iron, export, fob Ponta da Madeira, Brazil, was $460-465 per tonne on Friday, also up by $15 per tonne in line with the import price in the US, compared with $445-450 per tonne a week earlier.
Offers of high-phosphorus pig iron from the south of Brazil were heard at $445-450 per tonne FOB, but with no new sales. The latest sale was done to the US at $440-445 per tonne FOB in the first half of March.
Material for late May-June shipment was available from the south of Brazil.
Fastmarkets’ weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $440-445 per tonne on Friday, stable week on week.
The availability of pig iron in the south of Brazil has been improving, one supplier said. The rainy season finished several weeks earlier and furnaces that were stopped have been gradually restarting.