CIS PIG IRON: Sales heard from Baltic Sea but Black Sea market quiet

The only sales heard in the pig iron export market from the Commonwealth of Independent States (CIS) recently were from the Baltic Sea region, while the Black Sea market was quiet during the week ended Thursday July 12.

The low-manganese pig iron from the Baltic ports goes to foundries in Western Europe, which is the key destination for cargoes from this area. These foundries are less affected by uncertainty in the scrap market and trade wars in the steel sector than steelmakers which buy high-manganese pig iron from the Black Sea area. Metal Bulletin’s export price assessment for CIS-origin low-manganese pig iron on July 12 was $415-417 per tonne fob Baltic Sea, increasing from $410-415 per tonne a week before on higher deal prices. One deal was done to the Western Europe for 5,000...

Published

Marina Shulga

July 12, 2018

20:08 GMT

Dnepr