US PIG IRON: Suppliers insist on higher prices despite fall in prime scrap

Pig iron suppliers to the United States have increased their offer prices despite another fall in the price of prime scrap grades, citing lower availability and higher iron ore costs, Fastmarkets has heard.

Fastmarkets’ import price assessment for pig iron in the US was $350-360 per tonne cfr on Friday February 8, increasing from $340-345 per tonne cfr a week before. “The prime-grade scrap price has dropped because it was overstated earlier, and now it is coming back to its normal level. In other markets globally, scrap is strong,” one supplier from the Commonwealth of Independent States told Fastmarkets. In February, prices for No1 busheling scrap - a potential alternative product to pig iron - fell by $10...


Marina Shulga

February 08, 2019

18:55 GMT