Final Thoughts
March 9, 2016
Final Thoughts
Written by John Packard
SMU sources have advised us that there were two vessels of pig iron sold out of Brazil to the United States at $200 per metric ton NOLA. This represents a $12 per ton increase over last sales ($188 per metric ton). Shipment of the pig iron is anticipated for April/May out of Brazil.
Fifteen years ago (2001) China was allowed to join the World Trade Organization (WTO). According to the World Steel Association (WSA) China produced 151,634,000 metric tons (167,148,000 net tons) of steel in 2001. That same year the United States produced 90,102,000 metric tons (99,320,000 net tons). I am checking with my sources but I believe China exports of steel in 2001 were negligible.
