Imported iron pigs slips to the lowest multi-year in February amid rebound prices

The volume of US pig iron imports dropped to the lowest level in almost three years in February because the price of rebounds and US buyers faced uncertainty about new tariffs, although Ferro’s memo imports increased in February, according to the Global Global Global Intelligence Global Intelligence atlas April 16.

US pork iron imports are 177,903 MT in February, down 72% from 630,907 MT in January and a decrease of 55% from 392,319 MT in February 2024. MT.

The Volume of US Iron Pig Iron Imports in February is the lowest since April 2022, the first month which recorded zero imports from Russia after the Ukraine invasion of February 2022. The last Russian pig iron cargo cleaned the US Customs in May 2022, and the US tariff of 70% for Russian pig iron imports began to take effect in April 2023. US tariffs 10% for Brazilian and Ukraine including iron pigs were implemented on April 9.

The platts weekly iron iron assessment rose to the average $ 448/MT with a New Orleans CIF base in February from $ 425/MT in January, and finally assessed at $ 477/MT CIF New Orleans 11 April.

The US Ferrous Memo import in February was 288,013 MT, up 33% from January and an increase of 20% from February 2024 Imports from Mexico are 48,873 MT, down 15% from January but more than three times the total February 2024 16,130 MT.

Ferrous US scrap import numbers are determined using the HS code 7204410020, 7204410040, 7204490020, 7204490040, 7204490060, 7204490070 and 7204490080.

The US Ferrous Memo exports in February were 1.56 million MT, up 2.1% from January but fell 15% from February 2024

The price of US exports for grated memos is assessed by platts at $ 324.25/MT FOB as East Coast 16 April, down $ 11.75/MT during the day.

Platts are part of S&P Global Commodity Insights.
Source: Platts