Brazil Pig Iron Exports Hit All Time Low in 2018

Brazil's pig iron exports decreased by about 16% Y-o-Y in CY18 & recorded all time low, according to data maintained by SteelMint since 2010.

In the calendar year of 2018, Pig iron exports from Brazil were reported around 1,912,664 MT as against 2,281,652 MT in 2017, according to trade statistics released by Brazilian customs.

United States imports the largest volume of Brazilian pig iron in CY18, imported around 737,730 MT, followed by Netherlands (301,497 MT) & Italy (190,076 MT). And it was learned that, the export from the nation to United States, Netherlands & Italy decline by 26.60% ,12.74% & 29.94% on yearly basis.

In 2018, the major export of pig iron were from the ports of Rio De Janeiro (796,366 MT), Vitoria (639,879 MT) & Sao Luis (330,149 MT). While approximately 41.64% of exports were done from the port of Rio De Janeiro in CY18.

In CY18, SteelMint's average price assessment for Brazil pig iron exports was USD 374/MT rise from USD 337/MT FoB Brazil in CY17.

In CY18 (Jan-Nov) the crude steel production of Brazil was approximately 31,914,615 MT. Meanwhile, in CY17 the figure of crude steel production stood at 34,396,100 MT, & 30,212,300 MT in CY16 - WSA.

Monthly Analysis

As per the recent released data by Brazilian customs - in Dec'18, Pig iron export rise more than 100% M-o-M & stood at 265,151 MT as against 121,251 MT in Nov'18. While on yearly basis, surge by 80.91% against 146,559 MT in Dec'17.

During Dec'18, United States has imported approximately 63.22% (167,649 MT) Pig iron, which surge by 108.50% M-o-M as against a month ago at 80,404 MT & continues to remain the largest Pig iron buyer of Brazil. Inline the other largest importer of Brazilian originated Pig iron in the month was Peru (35,303 MT), Italy (27,171 MT) & Thailand (19,246 MT).

Currently global export prices for basic grade pig Iron is assessed at USD 340-345/MT FoB Brazil & USD 355-365/MT FoB India.