Brazilian pig iron export prices have remained stable, averaging around $450-455/tonne fob since the beginning of April. Suppliers have confirmed to Kallanish that trade with the US is growing.

"The market remains calm after prices moved up ahead of the Easter following a greater interest in demand from the US," one trader says. “US buyers closed two new deals for June delivery, which allows us to think that the market is recovering.”

According to another seller, the uncertainty throughout the steel sector resulting from Trump’s tariffs remains.

“The situation puts pressure on the market, and negotiations for the Brazilian material have room for a price increase,” he explains. “Brazilian producers are already planning to up values to $455-460/t for June/July loadings.”

Brazil’s pig iron production rose in March, as exports did.

According to data from the local steelmakers association Instituto Aço Brasil (IAB), March’s pig iron output was 2.3 million tonnes, an increase of 205,000t or 9.8% month-on-month. This volume was 3% higher year-on-year. Output in the first three months of the year amounted to 6.63mt, an increase of 2.5% y-o-y.

Brazilian pig iron exports reached 350,435t, compared with 190,987t in the previous month. This volume was up 4.8% y-o-y. The country shipped abroad 855,040t in January-March, representing a decline of 18.6% y-o-y, IAB data show.