Black Sea origin Pig iron prices were constant in the last week of June, due to poor off take in finished steel, uptrend in Scrap prices and as importers of the material were holding enough stock then.
Offers standing in the range of $370-385/MT FoB Black Sea are anticipated to come down further by $5/MT in the first week of July due to limited buying activities in the steel sector and be constant the entire month. August might see prices at $380-410/MT.
Rise in Scrap prices and limited Pig iron availability is expected to support Pig iron offers.
Italy – Buyers had to make purchases at low prices on low Scrap offers.
Russian exporters closed last deal at $380-385/MT FoB and 7,000 tons of Pig iron was sold at $5/MT low to 370/MT FoB from Ukraine.
US – Rise in flat products demand and Scrap prices helped exporters to close Pig iron deals at offers higher than the previous week.
Turkey – Pig iron buying was poor and suppliers reluctant to offer discounts as Scrap was slightly expensive.
Though, buyers were ready at 360-370/MT FoB, Ukrainian exporters were holding offers at 4380/MT FoB level.
Ukraine Brazil Asia USA
27 June 378 387 397 392
21 June 378 382 392 390
14 June 380 380 392 390
07 June 383 392 403 400
31 May 385 392 405 403
FoB (Ukraine & Brazil); CFR (Asia & USA)
Leave a Reply