Following uptrend in coking coal, coke and scrap prices, global Pig iron producers have increased their offers to get benefit from higher prices.
CIS nations: CIS nations, the major producers of Pig iron has raised their offers following the uptrend in the market. Pig iron suppliers have increased their export offers by USD 15-20/MT. Current export offers are at USD 280-285/MT, FoB Black Sea. Export offers gained due to ongoing uptrend in the coke, coking coal and scrap prices.
Brazil: Brazilian Pig iron export offers moved up sharply by USD 20/MT in a week time. Current offers are at USD 290-295/MT, FoB Brazil. Prices are up due to rise in raw material prices, so Pig iron producers are trying to get benefit from higher prices by raising their offers.
India: Overall Indian Pig iron exporters focuses on fulfilling domestic demand. NINL, a major Pig iron exporter’s last domestic offers were at INR 21,500/MT (USD 320/MT), however the company is yet to release the new prices soon.
On the other hand, SAIL, another Pig iron exporter has recently made a shipment of 18,000 MT Pig iron to Thailand from Haldia Port. According to sources, the deal has been concluded at USD 240/MT, FoB India.
Italy: Italy being the second largest Pig iron importer is importing high manganese material from Black sea at around USD 282-285/MT and USD 296-301/MT, CIF Italy. Vessel freight to Italy is about USD 14-15/MT.
South East Asia: Thailand based Pig iron importers are importing small quantities of Pig iron to fulfill their requirement.
Turkey: Turkey, the largest buyer of imported scrap, prices for imported scrap has increased sharply by USD 45/MT in one month. Current offers for HMS 80:20 (US origin) are at USD 258-260/MT, CFR Turkey.Whereas, offers for Pig iron from Black sea to Turkey is currently hovering at USD 282-285/MT, FoB Black Sea. Although, Pig iron offers are much higher than imported scrap, few deals have been concluded by Turkey based importers for Pig iron at such levels.
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