The pig iron market in the United States was under pressure from lower prices for high-phosphorous material from Brazil, while supplies of low-phosphorous material continued to be restricted, Fastmarkets heard on Friday May 3.
"The only thing really dragging pig iron [prices] down is the weak domestic [pig iron] market in Brazil and the lack of markets for high phosphorous material," one buyer in the US told Fastmarkets."If they did not have [high-phosphorous suppliers in the south of Brazil] to cut prices to move tonnages, prices for CIS-origin pig iron would have more support," he added.Fastmarkets' import price assessment for pig iron in the US was $355-360 per tonne cfr on May 3, down by $5 per tonne week on week, because the workable...