High coking coal prices and low scrap prices have limited the trade of Pig iron globally. Overall global Pig iron market remained quiet.
Major market Scenario
Russia
Global Pig iron export prices in the Black Sea moved down by USD 5/MT over a week due to thin demand and low scrap prices. Last week prices were assessed at USD 240-245/MT, FoB Black Sea.
Ukraine
High coking coal prices have created pressure on Ukrainian Pig iron producers, as a result, Pig iron manufacturers have reduced production to avoid losses. Current offers are hovering in the range of USD 235-238/MT, FoB Ukraine.
India
Due to increased domestic demand, Indian Pig iron manufacturers are not offering material in the export market. MMTC, India’s largest Pig iron producer had canceled its last export tender for 30,000 MT owing to better realizations from the domestic market. The last tender fetched bid at around USD 247/MT, FoB India.
Few market sources confirmed that the company is likely to issue fresh export tender shortly.
Brazil
In Week 42, Pig iron export prices in Brazil is assessed at USD 245-255/MT, FoB Brazil. Prices remained unchanged W-o-W. However, on M-o-M basis, prices dropped down by USD 5/MT and was assessed at USD 250/MT, FoB Brazil due to limited trade activities.
Bangladesh
Bangladesh, a major importer of Indian Pig iron also remained quiet. Currently, Bangladesh is more inclined towards billet imports. No new deals were heard to conclude neither from Russia nor from India to Bangladesh.
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