For the Quarter Ending June 2026
Pig Iron Prices in APAC
- In India, the Pig Iron Price Index rose by 15.12% quarter-over-quarter, driven by coking-coal supply.
- The average Pig Iron price for the quarter was approximately USD 401.00/MT, supported by auctions.
- The Pig Iron Spot Price showed regional variance as merchants adjusted offers amid thin liquidity.
- The Pig Iron Price Forecast implies downside risk as monsoon curbs construction and foundry replenishment.
- Elevated freight and insurance premiums pushed the Pig Iron Production Cost Trend, sustaining mill offers.
- The Pig Iron Demand Outlook shows pipe tenders supporting demand while steel procurement remains subdued.
- Rising export bookings and inventory draws moderated the Pig Iron Price Index, capping immediate upside.
- SAIL auction participation and steady blast furnaces underpinned short-term tightness in select domestic pig iron.
Why did the price of Pig Iron change in June 2026 in APAC?
- Tight coking coal supply and freight insurance raised landed costs, elevating pig iron cash costs.
- Seasonal monsoon slowdown and downstream orders reduced procurement urgency, tempering spot bid activity across regions.
- Improved export bookings and SAIL auctions absorbed volumes, counterbalancing domestic weakness and supporting price levels.
Pig Iron Prices in Europe
- In Russia, the Pig Iron Price Index rose by 9.17% quarter-over-quarter, driven by export tightness
- The average Pig Iron price for the quarter was approximately USD 361.00/MT, reflecting steady costs
- Pig Iron Spot Price firmed as rerouted cargoes and insurance premia tightened immediate delivery availability
- Pig Iron Price Forecast projects firmness given constrained alternative origins and steady pre-summer construction restocking
- Pig Iron Production Cost Trend flat amid steady iron ore and Kuzbass coking coal prices
- Pig Iron Demand Outlook shows selective import buying from Turkey and China, with Europe absent
- Pig Iron Price Index supported by constrained merchant inventories and blast furnace output limiting supply
- Operational stability at major mills preserved flows while sanctions and documentation hurdles constrained export bookings
Why did the price of Pig Iron change in June 2026 in Europe?
- Stronger overseas enquiries absorbed limited merchant cargoes, tightening available prompt supply and supporting FOB offers
- Steady domestic feedstock pricing kept production costs flat, while insurance and rerouting raised delivery expenses
- Sanctions and documentation reduced European purchasing, redirecting volumes towards non-EU buyers and firming export bids
Pig Iron Prices in North America
- Pig Iron Spot Price softened progressively through the quarter as domestic electric arc furnace (EAF) mills increasingly substituted pig iron with lower-cost shredded scrap and direct reduced iron (DRI) alternatives.
- Pig Iron Production Cost Trend remained mixed—while coking coal and iron ore pellet costs eased from Q1 peaks, higher natural gas prices for kiln operations partially offset those savings for U.S. producers.
- Pig Iron Price Forecast projects further downside in Q3 2026, with possible stabilization only if scrap prices rally or imported pig iron from Brazil and Russia faces new trade barriers.
- Pig Iron Demand Outlook is subdued, as U.S. steel mills operated at reduced capacity utilization (near 73%) and automotive sector off-take softened due to slower electric vehicle platform transitions.
- Major North American pig iron producers maintained steady output, but inventory levels at Gulf Coast terminals swelled by 18% over the quarter, exerting downward pressure on the Pig Iron Price Index.
- Import arrivals from Brazil remained consistent, while cheaper Russian pig iron found alternate buyers in Asia, limiting any major supply glut in the domestic spot market.
Why did the price of Pig Iron change in June 2026 in North America?
- Prices decreased in June 2026 primarily because of aggressive scrap substitution by major EAF mills, which reduced their pig iron purchase volumes by nearly 12% month-over-month.
- Additionally, a sudden drop in ferrous scrap prices (by ~USD 40/MT) made pig iron less competitive on a metallics-cost-per-ton basis, forcing U.S. sellers to lower their Pig Iron Spot Price offers to move accumulating inventories.
- Weaker finished steel pricing and softer construction spending further dampened mill buying appetite, accelerating the decline in the Pig Iron Price Index during June.
Pig Iron Prices in South America
- In Brazil, the Pig Iron Price Index rose by 12.62% quarter-over-quarter, reflecting tighter exports and firm demand.
- The average Pig Iron price for the quarter was approximately USD 485.00/MT, per FOB Ponta Da Madeira.
- Brazilian Pig Iron Spot Price firmed amid constrained charcoal logistics and blast-furnace runs supporting export parity.
- The Pig Iron Price Forecast remains cautiously bullish as CBAM-driven European demand and construction support elevated offers.
- Pig Iron Production Cost Trend edged higher with rising iron-ore benchmarks and freight insurance premia impacting FOB breakevens.
- The Pig Iron Demand Outlook points to steady export appetite from US and EU foundries, offsetting domestic weakness.
- Market Pig Iron Price Index showed volatility potential due to logistics bottlenecks and kiln output fluctuations.
- Producers withheld spot tonnage, keeping FOB offers resilient while modest domestic manufacturing slowdown tempered additional upside.
Why did the price of Pig Iron change in June 2026 in South America?
- Balanced blast-furnace runs and improved charcoal supply after rainy season supported stable export loadings and pricing.
- Marginally firmer US and EU enquiries replenished inventories while Turkish demand softened, moderating upward pressure.
- Iron-ore benchmark gains and logistic normalization raised production breakevens, but absence of freight disruptions contained escalation.
For the Quarter Ending March 2026
Pig Iron Prices in North America
- In the United States, the Pig Iron Price Index increased quarter-over-quarter, driven by tighter domestic supply and higher import costs.
- Pig Iron Spot Price moved upward as mills reduced spot allocations and prioritized contract deliveries.
- Pig Iron Price Forecast suggests continued firmness due to sustained foundry demand and limited import parity.
- Pig Iron Production Cost Trend reflects higher iron ore and coking coal benchmarks, plus elevated natural gas and freight expenses.
- Pig Iron Demand Outlook remains positive from automotive, pipe, and heavy equipment sectors, though construction seasonality tempers upside.
- Domestic inventory levels tightened as buyers pre-positioned ahead of anticipated trade policy changes.
- Import arrivals lagged due to logistics delays at Gulf and East Coast ports, supporting the Price Index.
Why did the price of Pig Iron change in March 2026 in North America?
- Prices increased because of higher input costs for iron ore and metallurgical coke, coupled with reduced spot availability from domestic mills.
- Logistics bottlenecks at major ports delayed imported Pig Iron, tightening prompt supply and elevating landed costs.
Pig Iron Prices in APAC
- In India, Pig Iron Price Index rose by 15.47% quarter-over-quarter, due to higher coking costs.
- The average Pig Iron price for the quarter was approximately USD 412.67/MT as assessed nationally.
- Pig Iron Spot Price tightened as mills restricted allocations, elevating intensity and reducing available offers.
- Pig Iron Price Forecast remains biased upward as input costs and pre-buying sustain near-term firmness.
- Pig Iron Production Cost Trend shows pressure from constrained coking-coal supplies and increased freight premiums.
- Pig Iron Demand Outlook stays constructive from pipe and foundry sectors, though seasonality slightly moderates.
- Pig Iron Price Index reflected tightening inventories as export enquiries and restocking intensified buying pressure.
- Major mill run-rates were steady, while duties constrained imported coke availability, further tightening spot liquidity.
Why did the price of Pig Iron change in March 2026 in APAC?
- Higher coking-coal prices and anti-dumping measures elevated smelting costs, prompting mills to limit spot allocations.
- Rail congestion and seasonal logistics added inland surcharges, increasing landed costs and constraining merchant availability.
- Downstream pipe and foundry procurement absorbed supply selectively, insufficient to offset elevated input-driven price pressure.
Pig Iron Prices in Europe
- In Russia, the Pig Iron Price Index rose by 8.18% quarter-over-quarter, reflecting tighter export availability.
- The average Pig Iron price for the quarter was approximately USD 330.67/MT, reflecting export demand.
- Pig Iron Spot Price remained firm; constrained rail links and seller offers reduced merchant tonnage.
- Pig Iron Price Forecast signals modest Q2 gains from seasonal restocking and constrained export availability.
- Pig Iron Production Cost Trend rose because firmer iron-ore and coking-coal increased unit cash costs.
- Pig Iron Demand Outlook remains supportive from Turkish and Chinese restocking; European purchases are subdued.
- Pig Iron Price Index signals balance; inventories, port operations and freight costs shape near-term ranges.
- Novorossiysk terminal inventories tightened, reducing spot liquidity and supporting forward offers during smoother berth operations.
- Sanctions and shipping insurance altered trade routes, influencing FOB competitiveness and near-term export price dynamics.
Why did the price of Pig Iron change in March 2026 in Europe?
- Balanced domestic supply and steady Turkish and Chinese buying supported prices despite muted European inquiries.
- Logistics constraints earlier in quarter tightened merchant availability, elevating marginal costs and pressuring spot liquidity.
- Stable energy tariffs and export duty kept margins intact, enabling pricing discipline and fewer discounts.
Pig Iron Prices in South America
- In Brazil, the Pig Iron Price Index rose by 11.57% quarter-over-quarter, reflecting stronger export demand.
- The average Pig Iron price for the quarter was approximately USD 430.67/MT, reflecting steady bookings.
- Tight charcoal logistics and rainfall constrained kiln output, lifting the Pig Iron Spot Price markedly.
- CBAM-driven European enquiries improved export interest, supporting a cautious Pig Iron Price Forecast this quarter.
- Firm iron-ore benchmarks and charcoal costs pushed the Pig Iron Production Cost Trend notably higher.
- Resilient US and Southern European buying underpins the Pig Iron Demand Outlook for immediate shipments.
- Ponta da Madeira inventories tightened, supporting the Pig Iron Price Index and restricting spot volumes.
- Continuous operations at Minas Gerais furnaces preserved shipments, informing the near-term Pig Iron Price Forecast.
Why did the price of Pig Iron change in March 2026 in South America?
- Heavy rains disrupted charcoal logistics, reducing furnace throughput and tightening exportable Pig Iron availability significantly.
- Elevated scrap and iron-ore benchmarks raised input costs, increasing pig iron replacement demand among buyers.
- Stronger US and Southern European enquiries, aided by CBAM, absorbed tonnage and constrained spot liquidity.
