Minas Gerais pig iron hits $475-480 fob while Carajás refuses $500 bid

Pig iron makers from Brazil’s southeastern Minas Gerais state closed two export deals at $475-480 per tonne fob after several weeks out of the market, while companies from the northern region of Carajás have refused bids for as high as $500 per tonne fob, producers and trading sources told MB

One of the transactions in Minas Gerais comprised some 35,000 tonnes of pig iron sold at around $475 per tonne fob, several sources confirmed. The buyer, a trading company taking long-term positions, was supposedly looking to buy more cargoes in order to fill a 50,000-tonne vessel to be probably shipped to the USA in March. One market participant claimed to have sold approximately 20,000 tonnes at around $480 per tonne fob also for a trading company, but...

Published

December 24, 2010

11:30 GMT

São Paulo