Low supply of Pig iron
in the international market will not support a downward movement in prices,
though, they look to fall slightly from current levels.
A couple of factors such
as weak buying interest for finished products and cheaper substitute – scrap,
might result for the above and accounted for stability in markets for the last one week.
FOB Black Sea prices are quoted at $390-403/MT, likely to fall to $390-400/MT May 3-9, down to $385-400/MT May 10-16.
Mid-May onward, Pig iron might be cheaper at $375-395/MT and at $370-385/MT in June.
Pig iron prices: Brazil & Ukraine (FOB) & Asia & USA (CFR)
Date Brz Ukr USA Asia
Apr 26 410 397 425 410
Apr 19 415 398 427 412
Apr 12 417 400 430 415
Apr 05 417 405 430 430
Mar 29 410 400 425 435
Asia: Buyers are holding stock in sufficient volumes and quotes for Russian Pig iron is at $400-420/MT CIF. Buyers are ready to purchase Brazilian material at $430-435/MT CIF.
EU: Poor finished products sales and cheaper scrap has accounted for low Pig iron sales.
Buyers hold buying at $390-400/MT FOB Ukrainian material on expectations of drop in prices.
Russian Pig iron at $400-415/MT CIF has not interested consumers, low supply and stable demand in market exists.
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