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According to the latest data from the Brazilian SMA490AW steel Ministry of Development, Industry, Trade and Services, Brazil's commodity pig iron exports in October 2024 decreased by 6% year-on-year to 450615 tons, but the highest monthly export volume this year. Compared to September, the export volume in October increased by 18.6%.
From January to October this year, Brazil's total export of commodity pig iron reached 3.2 million tons, a decrease of 1.2% compared to the same period last year. The main export destinations for October are the United States, the Netherlands SMA490AW steel, and Vietnam, mainly through the ports of Rio de Janeiro, St. Louis, and Victoria.
The average price of Brazilian pig iron exports in October was $445 per ton FOB.
Although the export volume increased in October, the overall annual export remained stable with a slight decrease, indicating that SMA490AW steel market demand is not strong enough. The current prices are relatively stable, and market participants should closely monitor changes in demand in major markets to adjust export strategies and respond to potential price fluctuations in the future.
