Pig iron market witnessed poor demand in the week before as buyers decided to hold a wait and see attitude on the falling price trend.
Ukraine: Suppliers pulled down prices by $3-7/MT to $384-390/MT in last one week on quiet weak demand.
EU: Plants are utilizing less capacities and Scrap is being given preference. Buyers from Italy are interested to lift the material at $10-20/MT less. From Ukraine and Russia, EU buyers are ready to purchase at $415/MT and $420/MT CIF respectively.
In the days ahead, Pig iron prices will meet with further reduction on limited availability, Scrap being offered at lower offers and on poor buying in finished steel products.
$FoB Black Sea Prevailing and expected Pig iron offers:
Current 384-390
May last week 380-390
June 1st week 375-390
Later part of June 360-390
July 365-395
Pig iron prices in international market:
In May:
Date Asia Brazil Ukraine USA
24 403 395 387 410
17 410 401 392 413
10 405 403 393 415
03 408 405 394 420
In April:
24 410 410 397 425
Asia in (CFR), USA (C&F), others in FoB
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