CIS PIG IRON: Export market yet to improve despite rising scrap prices in US

The export market for pig iron from the Commonwealth of Independent States failed to improve over the past week, despite rising scrap prices in the United States - a key destination for CIS products.

Weak finished steel prices in the US and Italy have prevented the CIS pig iron export market from growing. Fastmarkets’ export price assessment for high-manganese pig iron from the CIS was $360-375 per tonne fob Black Sea on October 11, widening upward on higher offers. Once prime grade scrap in the US went up by around $20 per tonne, a large pig iron exporter from Russia has increased offers to $397-400 per tonne cfr, that would be close to $377-380 per tonne...


Marina Shulga

October 12, 2018

10:55 GMT