Russian pig iron offers plummet by $25 on rouble crash

Offer prices for Russia-origin basic low-manganese pig iron dropped by $25 per tonne, prompted by the weakening rouble, sources told Steel First on Thursday December 18.


“The rules of the [Russian pig iron] game have changed because of the rouble’s fall,” one distributor said.
The exchange rate stood at 65 roubles to the $1 on Thursday December 18, compared with 54 roubles last week and a level below 35 roubles in early July, according to exchange rate service Oanda.com.

Steel First’s price assessment for Russian basic low-manganese pig iron fell to $380-390 per...

Published

Nina Nasman

December 18, 2014

22:38 GMT

London