Few Pig Iron deals in US are signed looking at rising prices of raw material next month, enough stock available till around the mid of September, seasonal slowdown and low demand from end users.
Russia booked a contract in the mid of this month at $370/t FOB Black Sea Ports for 30,000-40,000 t to a state in the south region of US.
Russian offers might rise by $5-15/t as material for August is sold out and is looking forward to Turkey and Europe in future.
South Brazilian offers reduce to $390t FOB to a state in the south region of US, but traders are ready at $380/t FOB.
Pig Iron demand is expected to be low as prices may rise in the next week of August.
Leave a Reply