Rising iron ore prices in
spot market and improved sales of Pig iron in the past week have pushed up CIS Pig Iron (FOB Russia) exports offers for Turkish buyers which is higher than that
of scrap.
A buyer was interested to
purchase Pig iron from Ukraine at $405/ FOB Black Sea for shipment by month end.
Whereas, a Turkish based buyer purchased early February production material at prices standing below $425/MT CFR.
It was heard that a Russian producer was able to conclude deal for low manganese Pig iron at $418-420/MT FOB Black Sea.
At low prices, around $420/MT CFR North Turkey, users of Pig iron were ready to close deals but countries such as Ukraine, Russia and Iskedarum were unwilling to make sales at lower levels.
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