Metals & Mining Theme, Ferrous
August 13, 2025
US pig iron imports drop in June amid tariff uncertainty
By Greg Holt
HIGHLIGHTS
Imports from Brazil, Ukraine fall sharply in June
Supply from India threatened by higher tariffs
US pig iron imports fell in June from May as steelmakers were uncertain of the tariff rates applicable to goods from several key supplier countries.
US pig iron imports in June were 273,579 mt, down 28% from May but up 12% from June 2024, S&P Global Market Intelligence's Global Trade Atlas shwoed Aug. 12. US imports from top supplier Brazil fell 37% month over month to 273,579 mt, while imports from number two supplier Ukraine dropped 52% month month over month to 50,564 mt.
Monthly US pig iron import volumes in June were supported by 72,000 mt received from India, the largest monthly volume since June 2023, and 28,032 mt from Canada, the largest monthly volume since November 2022.
Although US steel imports from Canada face a 50% tariff, feedstocks pig iron and ferrous scrap are excluded from tariffs under the US-Mexico-Canada trade agreement. From April to August, there was uncertainty around what tariff levels would be applied to pig iron imports from Brazil and Ukraine above the 10% global baseline established by the Trump administration in April, but pig iron imports from both countries remain at 10%.
US pig iron imports from India were 215,658 mt in the first six months of 2025, making it the third-largest supplier in the January-June period after Brazil with 1.74 million mt and Ukraine with 697,545 mt. But the Trump Administration increased tariffs on pig iron and most other goods shipments from India to 25% from 10% effective Aug. 7 amid ongoing trade negotiations, potentially cutting off India as a viable source.
"Consequently, buying interest from US importers has largely paused, as competitiveness at this higher tariff level is minimal," an India-based sell-side source said.
The Platts US pig iron import CIF New Orleans monthly average price for June was $433/mt for June, down from $460/mt for May. The weekly price was last assessed at $430/mt CIF New Orleans Aug. 8, down from $440/mt CIF New Orleans one week earlier.
Platts is part of S&P Global Energy.
