Ukraine and Russia: Pig Iron is being traded
at high prices in Ukraine and
Russia after continuous loss for some months. Offers rise as sales
improve slightly in September, iron ore prices are falling up to $90/mt level
and scrap prices are stable due to steady US flats market.
Ukrainian producers sold
at $400/mt FOB Mariupol ($430-440/t CFR southern Europe and Turkey), $30/mt up
from July. Lowest sales in July were at $395-400/mt CFR and $370/mt FOB
Mariupol. Russian sellers closed
September bookings at $440/t FOB Baltic Sea.
Ukrainian and
Russian sellers face weak demand from Europe and Asia and also US buyers
purchase material for September and October from Brazil.
Southeast Brazil: A southeastern Brazilian
state is offering Pig Iron at $460/mt FOB, high by 9.5% as compared to $420/mt
FOB in July.
Demand is weak in
Brazil's domestic market and now that export offers rise on high scrap prices in other countries, exports is
expected to happen in few numbers.
North
China: Pig Iron prices in North
China slip from Yuan 2,850-2,900/mt on the 14th of August by to Yuan 2,700/mt ($426/t) on a delivered to mill
basis with 17% VAT on the 28th of August. Offers fall by around
Yuan 300/mt over the past one month.
Further correction is
expected as iron ore prices decline and finished steel products offers slipped
to below last year’s level, on economic slowdown and also as buyers hold
negative sentiments in dull domestic steel market.
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