Brazilian Pig Iron Prices Fall in June Amid Rising Exports
Brazil’s average pig iron prices dropped by $10 per ton in June, declining from $420/t at the end of May to $410/t. Despite this price decrease, Brazilian pig iron exports to the US rose sharply by 32%, reaching 358,000 tons. Most shipments, about 303,000 tons, went to the US at a higher price of $428/t. Buyers anticipate rising US tariffs and scrap metal prices, driving demand before tariffs take effect on August 1, 2025. However, these tariff threats are still uncertain and may lead to negotiations rather than immediate enforcement.
Market Shifts in Turkey and Global Pig Iron Production Trends
Turkey saw an 83% year-over-year increase in pig iron imports in May, mainly fueled by a surge in Russian supplies, which dominate 72% of Turkey’s pig iron market. Imports from Russia reached 176,200 tons, while cast iron imports from Ukraine also increased sharply. This shift results from Russia exhausting its 2025 EU quota and redirecting exports to Turkey and other markets. Meanwhile, global pig iron production decreased slightly by 0.3% in early 2025, with China, India, and Russia remaining the largest producers.
SuperMetalPrice Commentary:
The Brazilian pig iron market faces pressure from looming US tariffs but shows resilience through strong export growth. Rising scrap metal prices and geopolitical trade shifts encourage buyers to secure supplies early. Meanwhile, Turkey’s increasing imports highlight shifting global supply chains due to quota limits and trade restrictions. Market participants should monitor tariff developments closely, as they will influence pig iron pricing and global trade flows significantly.
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