Published by:Marina Shulga<>
5 May 2025 @ 09:05 UTC

The Brazilian export and United States import pig iron markets softened in the week to Friday May 2, on dampened sentiment surrounding the scrap market and weaker hot-rolled coil prices, sources said.

The trend in the pig iron market is definitely moving downward as both HRC and scrap are going down, one buyer in the US said.
There had been expectations among market participants toward a drop in May scrap buying week, withsupply outstripping demand, sources told Fastmarkets.
Estimations of the workable market level in the US was reduced to $465-475 per tonne CFR, from $470-480 per tonne CFR a week ago.
The US buyer also told Fastmarkets that material from Asia, which is an alternative origin to regular supply from Ukraine and Brazil, appeared in the US at competitive prices, which had some impact on the market level in the US. However, neither the exact price nor the quality of the material from Asia were clear at the time of publication.
Fastmarkets’ weekly price assessment for pig iron, import, cfr Gulf of Mexico, US was $465-475 per tonne on May 2, down by $5 per tonne from $470-480 per tonne a week earlier.
Fastmarkets’ assessment for pig iron, export, fob Ponta da Madeira, Brazil was $445-455 per tonne on May 2 also down by $5 per tonne from $450-460 per tonne a week earlier.
A second buyer in the US told Fastmarkets that he expects the downtrend is unlikely to continue in next several months, adding that he believes the impact on pig iron would not be significant.
“[The] market is softening very slowly on the scrap side, so that is not a disaster [for the pig iron market], a supplier from Brazil said.
High-phosphorous pig iron from the south of Brazil were heard to be available for June shipment, with offers being heard at $445 per tonne FOB. Estimations of the workable level reduce to at least $440 per tonne FOB.
Fastmarkets’ weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $440-445 per tonne on May 2, down from $445-450 per tonne a week earlier.