US import, Brazil export pig iron market up on scrap hike, strong HRC

The pig iron import market in the US and the pig iron export market in Brazil went up during the week to Friday March 3 on a hike in the scrap market, which is a strong indicator for the pig iron market, and a growing hot-rolled coil market.

“Scrap is looking stronger based on latest developments; we could see $100 per tonne up on prime grades,” one steelmaker and pig iron consumer said.

“Normally mills buy pig iron...