Europe: Pig Iron buyers in Western Europe limit their purchases looking at low scrap offers and enough availability of the material at the moment.
Bookings for Pig Iron, shipment of which will take place in the end of the year and in the start of 2013 is also being taken due to less supply of material expected later.
Prices are stable in some of the European countries. There are few chances of any good demand from the Italian buyers from the mid of November as most of the mills will hold operations next month.
Ukraine: Pig Iron offers sustain at levels raised last week as buying volumes has been good.
Exporters have quoted prices at $7/MT more to $365/MT FOB Black Sea and Azov Sea Ports ($390/MT C&F) to Italian mills as compared to deals closed during October end.
Though, the largest manufacturer of Pig Iron in Ukraine has closed sales this week, suppliers are also getting orders at $5/MT more.
Material is not being offered to Turkey as of now as change in offers will be seen this week end and an offer of $418/MT C&F Turkey was not accepted by Turkish buyers. A slight increase of $5/MT is expected with a good number of deals to take place further.
Russia: Pig Iron was sold at $375/MT FOB Black Sea ports ($400/MT C&F Italy) to Italy, down by $5/MT. Prices were raised in the start of Nov by $10-20/MT as compared to Ukrainian prices.
To Europe, 2,000 to 3,000 tons toms of material is being offered at $390/MT FOB Black and Baltic Sea Ports ($415/MT C&F).
A deal was closed at $15/MT more as compared to trades in October end, which was at $400/MT FOB Baltic Sea ($425/MT C&F Western ports of the EU) in the first week of November.
On expectations of price rise, large suppliers in Russia are not in a hurry to sell out the December produced material and supply is less.
Leave a Reply