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Falling prices force Brazilian pig iron producers to cut output
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Brazilian pig iron output has been reduced by 30 percent. The reduction is as a result of dropping export prices and the depreciating of the Brazilian real against the US dollar. The current export price is around $250/ton CFR New Orleans. The production cost per ton of pig iron is currently at $220 per ton. Several producers in southeast Brazil have stopped their production due to the weak market conditions. Producers are also focusing more on the domestic market because of the bigger loss in the export market. (Dec. 8)
News Date
12/8/2005 11:35:02 AM
reported by
Colin
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