Price-Watch’s most active coverage of Pig iron price assessment:
Asia-Pacific
- Pig iron, Steel grade, Ex-Bhilai, India
- Pig iron, L8-547, Ex-Shanghai, China
North America
- Pig iron, Steel grade, FOB-Alabama, USA
South America
- Pig iron, Steel grade, FOB Santos, Brazil
Note: In assessments structured as CIF [Importing Port] (Exporting Country), the country mentioned in brackets indicates the primary origin of supply (exporting country), while the named port refers to the destination port in the importing country. Other Incoterms (FOB, FD, EXW, etc.) should be interpreted in accordance with standard international trade definitions.
Pig iron Price Trend Q4 2025
In the fourth quarter of 2025, the global pig iron market saw small declines, due to steady steel demand, balanced furnace use, and normal shipping rates. Brazil and China led the slight drop with regular production from Angico and Hebei areas. The USA and India followed with weaker demand from foundries and local steel mills, showing an overall balanced but soft market.
Pig iron, Steel grade, FOB Santos, Brazil
The price trend of pig iron in Brazil fell by 0.2% in Q4 2025, caused by lower US shipments and steady local steel needs after tax changes. Factories in the Angico area kept production steady, but FOB prices at Itaguai dropped due to weak interest from Turkey and Asia. The currency helped offset some shipping costs, and P15S grades held small premiums. Exports lost edge to suppliers from CIS countries, leading to minor volume cuts. Pig iron prices in Brazil rose by 0.7% in December 2025, helped by some restocking from US buyers. Short port delays lifted short-term prices, though big suppliers focused on contracts. Good quality kept price differences small, supporting the small gain.
Pig iron, Steel grade, FOB-Alabama, USA
The price trend of pig iron in the USA fell by 0.3% in Q4 2025, due to lower demand from Midwest car parts and better scrap mixes at big mills. Imports from Brazil stayed routine, reducing spot needs despite stable tariffs. Recyclers preferred local scrap over imports with even shipping costs. Foundry demand slowed after peak season. Pig iron prices in the USA rose by 0.5% in December 2025 as some cargo deals countered stock levels. Buyers sought small amounts for early next year, lifting delivered prices. Stable scrap kept changes in check.
Pig iron, Steel grade, Ex-Bhilai, India
The price trend of pig iron in India fell by 1.0% in Q4 2025, from weak DRI use and lower ductile iron output amid flat steel prices. Auctions in Odisha and Maharashtra saw low bids, with sponge iron gaining share. Coastal imports from CIS matched local prices, cutting Raipur premiums amid high stocks. Foundries waited for infrastructure projects. Pig iron prices in India rose by 0.8% in December 2025, aided by holiday buying and mine shipments. Buyers took small lots, slightly raising weekly prices. Steady coking coal costs prevented bigger drops.
Pig iron, L8-547, Ex-Shanghai, China
The price trend of pig iron in China fell by 0.3% in Q4 2025, from lower blast furnace rates in Tangshan and shifts to silico-manganese mixes. Tangshan L8-10 prices eased against scrap gains, with inland shipping helping equal trades. Silicomanganese makers cut back versus other paths. Local rules reduced spot supply a bit. Pig iron prices in China rose by 0.8% in December 2025, from year-end furnace empties and policy support. Traders filled January needs, boosting MB prices slightly. Rebar demand hints steadied the end.



