Pig iron offers in the CIS region (Ukraine) have come down by USD 5-10/MT, owing to quite weak demand for the material in last one month.
Current offers are standing in the range of USD 375-380/MT FoB Black Sea, which were earlier quoted at USD 380-395/MT FoB Black Sea.
Pig iron offers in Korea is prevailing at USD 394/MT CFR and is at USD 375/MT FoB in Brazil.
Ukrainian Pig iron exporters had maintained prices for last one month; offers dropped by USD 5/MT on 10 September. Previous to this, exporters had raised offers by USD 5/MT on 03 September.
Korean based buyers are unwilling to place bookings for Brazilian and CIS Pig iron.
Impact on Indian Pig Iron Export Trades
Exporters of Pig iron in India might find it difficult to close a deal at prices higher to USD 370/MT FoB in near future.
Traders will not be keen to take Indian Pig iron at high prices, owing to limited demand from end users in South East Asia and Far East.
Streets are unhopeful of any increase in prevailing Pig iron prices in overseas market anytime soon.
Also, Chinese Steel market has been quiet stable with no indications of any improvement in prevailing prices and demand.
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