Published by: Marina Shulga<>
31 Mar 2025 @ 14:43 UTC

The pig iron import market in the US and export activity from Brazil were stable during the week to Friday March 28, with deals done within the range of workable price estimates from both buyers and suppliers since the middle of the month.
Several bookings of Brazil-origin high-phosphorus material were heard at $445-450 per tonne FOB Rio, equivalent to about $470-475 per tonne CFR.
Fastmarkets’ weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $445-450 per tonne on Friday, stable week on week.
A cargo of Ukraine-origin pig iron with low phosphorus content was booked at $480-485 per tonne CFR. Although this was booked under a long-term agreement, several market sources said that the price was in line with the spot market.
The weekly price assessment for pig iron, import, cfr Gulf of Mexico, US, was $480-485 per tonne on Friday, stable since March 14.
And the corresponding price assessment for pig iron, export, fob Ponta da Madeira, Brazil, was $460-465 per tonne on Friday, also stable since March 14 in line with the import price in the US.
I think we’re going down from here, one buyer in the US said. Hot-rolled coil prices are starting to slip and we see some weakness in the scrap market also. Fundamental demand is not particularly strong here. The market is mostly driven by trade policy at the moment.
One supplier said that demand in the US was firm, although the political situation added uncertainty to the market.
Apparent demand for Ukraine-origin material in Italy may have a positive effect on the import pig iron market in the US, because competition between buyers may become tougher, several sources on the supplier side said.
Fastmarkets also heard a booking of India-origin material at $460-465 per tonne CFR in the US, but this was not confirmed at the time of publication.