With CIS pig iron producers competing to maintain market share in both Europe and the USA and prices dropping to lower ranges, 2012’s prices of up to $500 per tonne fob Baltic Sea for Russia-origin basic low-manganese pig iron look unlikely to return.
During 2013, Russian basic low-manganese pig iron prices have held in a tight range of $405-440 per tonne fob Baltic Sea ports.
Ukraine-origin basic pig iron prices dropped as low as $365 per tonne fob Black/Azov Sea, and saw the higher end of the range reach $410 per tonne in the earlier part of the year.
“I suspect that the slow pace of recovery of the European steel sector has depressed prices for all metallics in Europe, a major market for CIS pig iron,” a North American steelmaking raw materials consultant told Steel First.
European steel markets continued to be plagued by overcapacity and low...