Brazilian exports of pig iron increased

According to data from the Ministry of Development, Industry and Foreign Trade of Brazil (Ministério do Desenvolvimento, Indústria e Comércio Exterior, abbr. MDIC), exports of pig iron from Brazil in October 2023 amounted to 479.6 thousand tons compared to 251.8 thousand tons in the month previously. The significant growth mainly reflected an 89% increase in exports to the US.

The main destinations of Brazilian exports of pig iron in October of this year were the United States, where 397.5 thousand tons were sent at a price of $419/t FOB, European countries - 43.1 thousand tons at a price of $453/t FOB, South American countries - 29 .7 thousand tons at a price of $363/t FOB, Mexico - 5.3 thousand tons at a price of $456/t FOB and Asian countries - 4 thousand tons at a price of $510/t FOB.

In the month under review, pig iron was shipped by producers from the states of Minas Gerais and Espirito Santo in the southeast of the country - 354.3 thousand tons at $422, from the states of Pará and Maranhão in the northern region - 76.1 thousand tons at $425 and from state of Mato Grosso do Sul in the central-western region - 49.2 thousand tons at $396, all prices per ton FOB.

In the ten months since the beginning of 2023, Brazil exported a total of 3.29 million tons of pig iron, compared to 3.11 million tons in the same period in 2022.