Overseas Pig iron market did not perform good in the last week as demand in flat products was weak and importers were holding stock in sufficient quantities.
Prices of Pig iron in the international market looks to come down in the current week due to cheap availability of scrap and weak buying in finished products. Supply of the material is low at the moment.
Turkish Pig iron buyers are not ready to make purchases at prices quoted above $390-395/MT CFR as they have enough of stocks with them.
In the European Union, buying was very limited as consumers were running mills at low capacities i.e. 60-65%.
Though, demand is weak as buyers have stock piled up, suppliers are not ready to cut down prices due to less stock available with them, to be offered.
Ukrainian Pig iron makers are offering at $390-405/MT FOB ($420-430/MT CFR Italy).
This week, it has fallen to $390-405/MT FOB, to 390-400/MT FOB by end of April, to 385-405/MT FOB and $395-405/MT FOB by June end.
And, those in Russia are quoted at $435-450/MT CFR currently.
Prices (in $/MT) fall by $2-3/MT WoW:
Particular Ukraine Brazil USA Asia
Mar 22 400 410 425 435
Mar 29 400 410 425 435
Apr 05 405 417 430 430
Apr 12 400 417 430 415
Apr 17 398 415 427 412
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