Prices for ex-Brazil basic pig iron (BPI) have reached its ceiling for now as even though sellers are sold out for May and partially for June, demand has been reduced with buyers resisting any additional price increase. The SteelOrbis reference price for Ex-Brazil BPI with 0.15 percent of phosphorus content has been stable over the week at $455-460/mt FOB. “The last deal was $460/mt FOB, and even this level seems already high for buyers,” a Brazil-based source. As it was reported last week, one contract for a smaller 30,000 mt volume was done at the abovementioned price. Some suppliers have…