Brazilian pig iron exports totaled 342,100 metric tons in July from 301,600 tons in June, an increase of 55%, according to the SECEX Foreign Trade secretariat of the Ministry of Development, Industry and Foreign Trade.
The increase was mainly driven by a significant increase in exports to the United States, which analysts attributed to uncertainty in early July about whether Brazilian pig iron would be exempt from higher tariffs proposed by U.S. authorities. On July 15, the Office of the U.S. Trade Representative (USTR) announced that Brazilian cast iron would indeed be exempt from 25 percent duties.
The destinations in July were the United States (291,300 tons at a price of 468 dollars per ton), Europe (45,200 tons at a price of 490 dollars per ton), Asia (5,200 tons at a price of 548 dollars per ton) and Argentina (400 tons at a price of 771 dollars per ton) on FOB terms.
Such prices were probably agreed in May, indicating the price of the BPI grade below $490 per ton, and the price of the foundry grade above this level.
Exports were carried out by producers from the southeastern states of Minas Gerais and Espirito Santo (251,000 tons), Steam in the north (59,100 tons), as well as from Mato Grosso do Sul (32,000 tons), in the central-western region of Brazil.
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