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Pig Iron Pricing, Demand and Supply Overview
2025
Base Year
2023-2025
Historical Period
2026-2027
Forecast Period
Market Overview
Pig Iron prices in the United States, the highest-cost reporting region, rose 1.5% in Q2 2026 to USD 536.00/MT from USD 528.00/MT in Q1, driven by steady demand from ductile iron pipe and automotive casting producers as seasonal castings activity picked up. Brazilian prices rose 0.8% to USD 500.00/MT, supported by consistent exports of high-purity pig iron to US and European electric arc furnace operators. Globally, the average held essentially flat, edging up from USD 461.88/MT in Q1 to USD 462.90/MT in Q2, a 0.2% gain, continuing this market's characteristically low-volatility trajectory. For H2 2026, a global average of USD 440.00-545.00/MT is expected, with this market remaining largely insulated from the broader raw material swings affecting other steel-linked commodities.
Pig Iron is an intermediate iron product produced by smelting iron ore in a blast furnace, used primarily as a feedstock for steelmaking via basic oxygen furnaces and as a charge material for electric arc furnace operations, particularly where scrap steel quality or availability is constrained. It also serves as a critical raw material for ductile iron pipe manufacturing and automotive casting applications, where its low residual element content makes it preferred over scrap-based charge mixes. Brazil and the United States represent key trade partners, with high-purity northern Brazilian pig iron regularly exported to US and European electric arc furnaces seeking low-residual material for specialty steel production. Scrap steel substitution economics, ductile iron pipe and automotive casting demand, and electric arc furnace charge mix requirements are what drive prices in this market.
Pig Iron Price Forecast for 2026
The outlook for Pig Iron through H2 2026 points to continued stability with modest regional firmness, supported by steady castings demand, scrap substitution limits, and resilient steelmaking blends. Brazil and the United States should continue seeing modest gains from export resilience and domestic foundry demand, while Black Sea and other CIS-origin material may continue facing softer pricing amid weaker demand in some export markets.
The main upside risk is a further tightening of scrap steel availability for electric arc furnace charge mixes, which could increase demand for pig iron as a substitute and push prices higher than currently forecast. The main downside risk is a broader softening of global steel demand combined with easing scrap availability, which could reduce the substitution premium that has supported pig iron pricing.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 440.00 - 545.00 | This market stays largely insulated from broader raw material swings |
| United States | 515.00 - 555.00 | Steady ductile iron and automotive casting demand sustains the highest cost |
| Brazil | 480.00 - 515.00 | Consistent high-purity exports support continued firmness |
| China | 435.00 - 460.00 | Balanced supply keeps this market steady |
| Russia | 335.00 - 375.00 | Softer export demand keeps this the most affordable market |
For the Quarter Ending June 2026
Pig Iron Prices Q2 2026:
- United States: USD 536.00/MT
- Brazil: USD 500.00/MT
- China: USD 447.00/MT
- Russia: USD 355.00/MT
Pig Iron Prices in the United States
US Pig Iron prices averaged USD 536.00/MT in Q2 2026, the highest of any region tracked here, up 1.5% from USD 528.00/MT in Q1, driven by steady demand from ductile iron pipe and automotive casting producers as seasonal castings activity ramped up.
Why did the price of Pig Iron change in Q2 2026 in the United States?
Steady demand from ductile iron pipe and automotive casting producers, combined with domestic Great Lakes furnaces benefiting from scrap shortages in electric arc furnace charge mixes, continued keeping this market at the top of the range tracked in this report.
Pig Iron Prices in Brazil
Brazilian prices averaged USD 500.00/MT in Q2 2026, up 0.8% from USD 496.00/MT in Q1, supported by consistent exports of high-purity pig iron to US and European electric arc furnace operators.
Why did the price of Pig Iron change in Q2 2026 in Brazil?
Consistent exports of high-purity northern pig iron to US and European electric arc furnaces seeking low-residual material for specialty steel continued supporting this market, with freight stability to Atlantic routes aiding competitiveness.
Pig Iron Prices in China
Chinese prices averaged USD 447.00/MT in Q2 2026, up 0.2% from USD 446.00/MT in Q1, holding essentially flat amid balanced supply conditions.
Why did the price of Pig Iron change in Q2 2026 in China?
Balanced supply amid electric arc furnace shifts kept this market on a low-volatility trajectory, insulated from the broader raw material swings affecting other steel-linked commodities.
Pig Iron Prices in Russia
Russian and broader Black Sea prices, the lowest of the four regions, fell 2.7% in Q2 2026 to USD 355.00/MT from USD 365.00/MT in Q1, reflecting weaker export demand.
Why did the price of Pig Iron change in Q2 2026 in Russia?
Weak demand in some export markets continued pressuring Black Sea-origin pig iron pricing, keeping this market the most affordable tracked in this report.
For the Quarter Ending March 2026
Pig Iron Prices Q1 2026:
- United States: USD 528.00/MT
- Brazil: USD 496.00/MT
- China: USD 446.00/MT
- Russia: USD 365.00/MT
Pig Iron Prices in the United States
US prices edged up 0.4% in Q1 2026 to USD 528.00/MT from USD 526.00/MT in Q4 2025, driven by steady demand from ductile iron pipe and automotive casting producers.
Why did the price of Pig Iron change in Q1 2026 in the United States?
The global pig iron price trend remained largely stable with modest firmness emerging late in the period, supported by steady castings demand, scrap substitution limits, and resilient steelmaking blends, with domestic Great Lakes furnaces benefiting from scrap shortages in electric arc furnace charge mixes.
Pig Iron Prices in Brazil
Brazilian prices rose 0.6% in Q1 2026 to USD 496.00/MT from USD 493.00/MT in Q4 2025, bolstered by consistent export demand.
Why did the price of Pig Iron change in Q1 2026 in Brazil?
Bolstered by consistent exports of high-purity northern pig iron from Maranhão to US and European electric arc furnaces seeking low-residual material for specialty steel, Vale and private blast furnaces maintained steady output despite an ore-focused production strategy.
Pig Iron Prices in China
Chinese prices held essentially flat in Q1 2026 at USD 446.00/MT, matching USD 446.00/MT in Q4 2025, reflecting balanced supply amid electric arc furnace shifts.
Why did the price of Pig Iron change in Q1 2026 in China?
India and China held even on balanced supply amid electric arc furnace shifts, reflecting a low-volatility segment insulated from broader raw material swings affecting other steel-linked commodities.
Pig Iron Prices in Russia
Russian and Black Sea prices fell 1.4% in Q1 2026 to USD 365.00/MT from USD 370.00/MT in Q4 2025, continuing a gradual multi-quarter decline.
Why did the price of Pig Iron change in Q1 2026 in Russia?
Weak demand pressured Black Sea-origin pig iron pricing, continuing the gradual multi-quarter decline that has characterized this market relative to the steadier Brazilian and North American benchmarks.
Quarterly Pig Iron Price Trends
Global Pig Iron prices held remarkably stable through every quarter tracked in this report, exhibiting the low-volatility, raw-material-swing-insulated behavior characteristic of this market, with Brazil and the United States posting modest, steady gains from export resilience and domestic foundry demand even as Black Sea-origin pricing continued a gradual decline.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 462.90 | +0.2% | ↑ Rising |
| Q1 2026 | 461.88 | +0.0% | — Stable |
| Q4 2025 | 461.72 | -0.3% | ↓ Falling |
| Q3 2025 | 462.98 | -0.2% | ↓ Falling |
| Q2 2025 | 463.68 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
What was Pig Iron Price in 2025?
Pig Iron held remarkably stable across every market covered in this report through 2025, with only modest quarter-to-quarter fluctuations reflecting this market's characteristic insulation from broader raw material swings, even as Russian and Black Sea-origin pricing diverged with a steady, gradual decline tied to softer export demand.
Pig Iron Prices in the United States in 2025
US prices firmed modestly from about USD 520.00/MT in Q1 2025 to USD 526.00/MT by Q4, a gain of roughly 1.2%, reflecting steady domestic castings demand throughout the year.
Pig Iron Prices in Brazil in 2025
Brazilian export prices firmed from about USD 480.00/MT in Q1 2025 to USD 493.00/MT by Q4, up roughly 2.7%, tracking consistent high-purity export demand.
Pig Iron Prices in China in 2025
Chinese prices held essentially flat across 2025, moving from about USD 450.00/MT in Q1 to USD 446.00/MT by Q4, down roughly 0.9%, reflecting balanced domestic supply conditions.
Pig Iron Prices in Russia in 2025
Russian and Black Sea prices declined from about USD 400.00/MT in Q1 2025 to USD 370.00/MT by Q4, down roughly 7.5%, the steepest annual decline of the four regions, tracking softer export demand through the year.
How We Can Help
Expert Market Research: Your Source for Real-Time Pig Iron Price Intelligence
Expert Market Research tracks Pig Iron prices continuously across every major producing and consuming region, combining scrap steel substitution economics, ductile iron pipe and automotive casting demand signals, and electric arc furnace charge mix requirement trends into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the stable trends covered in this report, and build a defensible view of where this essential steelmaking feedstock is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
It serves primarily as a feedstock for steelmaking via basic oxygen furnaces and as a charge material for electric arc furnace operations, alongside critical use in ductile iron pipe manufacturing and automotive casting applications.
The Q2 2026 global average was USD 462.90/MT, ranging from USD 355.00/MT in Russia to USD 536.00/MT in the United States.
The global average held essentially flat, moving from USD 461.72/MT in Q4 2025 to USD 461.88/MT in Q1 2026 and then to USD 462.90/MT in Q2, reflecting this market's characteristic low-volatility trajectory.
This market reflects a low-volatility segment insulated from broader raw material swings, supported by steady castings demand, scrap substitution limits, and resilient steelmaking blends that buffer it from the sharper price movements seen in iron ore and scrap steel markets.
The global average is expected in the USD 440.00-545.00/MT range, with this market likely to remain largely insulated from broader raw material swings.
Russia and the broader Black Sea region hold the lowest cost among the regions tracked here given softer export demand, while the United States carries the highest cost given steady ductile iron and automotive casting demand.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Scrap steel substitution economics, ductile iron pipe and automotive casting demand, and electric arc furnace charge mix requirements.
Brazil is a leading exporter of high-purity pig iron, particularly from the Maranhão region, with the United States, China, and Russia also significant producing and consuming markets tied to their domestic steelmaking and foundry industries.
Buyers can monitor scrap steel availability and electric arc furnace charge mix trends given their outsized influence on this market, time forward purchases around the quarterly breakdowns in this report, and benchmark supplier quotes against the tracked price ranges.
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