CIS PIG IRON: Market falls under pressure from weak scrap prices

The pig iron export market for producers in the Commonwealth of Independent States (CIS) has dropped because of crashes in domestic scrap prices in the key outlets of the United States and Italy.

Fastmarkets’ CIS export price assessment for high-manganese pig iron fell to $320-335 per tonne fob Black Sea on Thursday January 10, compared with $340-345 per tonne a week before.
“Based on weak scrap prices, buyers will ask for lower pig iron prices - much lower than current offers,” one trader said.

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Marina Shulga

January 10, 2019

19:00 GMT