Pig iron prices in global market have moved up sharply in March in-line with rising global scrap prices. Prices have hiked by about USD 40-50/MT in last one month. CIS nations, Brazil and India control major portion of seaborne Pig iron market.
India: Indian Pig iron exporters remain silent in the month of March owing to disparity between domestic and global prices. Domestic prices have moved up sharply post government imposed MIP on steel products.
Last tender was concluded at USD 190/MT, FoB East Coast India in the month of December 2015. There are no active tenders from Indian manufacturers at the moment.
Brazil: Prices were assessed at around USD 205-210/MT, FoB Brazil.
CIS Nations: Prices from Russia and Ukraine have moved up sharply owing to strong buying from Turkish steel mills. Turkey, which is a major buyer of scrap and Pig iron, has increased its purchases due to rising Chinese billet prices. Current prices are assessed at around USD 230-235/MT, FoB Black Sea.
Current Pig iron prices
| Particular | Currency | Grade | Prices | D-o-D | 1W | 1M |
| FoB Brazil | USD | Steel Grade | 210 | +10 | 200 | 182 |
| FoB India | USD | Steel Grade | 200 | 0 | 200 | 190 |
| FoB Russia | USD | Steel Grade | 235 | +20 | 215 | 174 |
| Ex-India (Ex-Cuttack) | INR | Steel Grade | 18,000 | 0 | 18,000 | 17,200 |
| Ex-China (Ex-Tanshang) | RMB | Steel Grade | 1,570 | 0 | 1,570 | 1,370 |
Prices in currency/MT
Source: SteelMint Research
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