US PIG IRON: Lower high-phosphorous prices put pressure on market

The pig iron market in the United States was under pressure from lower prices for high-phosphorous material from Brazil, while supplies of low-phosphorous material continued to be restricted, Fastmarkets heard on Friday May 3.

“The only thing really dragging pig iron [prices] down is the weak domestic [pig iron] market in Brazil and the lack of markets for high phosphorous material,” one buyer in the US told Fastmarkets. “If they did not have [high-phosphorous suppliers in the south of Brazil] to cut prices to move tonnages, prices for CIS-origin pig iron would have more support,” he added. Fastmarkets’ import price assessment for pig iron in the US was $355-360 per tonne cfr on May 3, down by $5 per tonne week on week, because the workable...

Published

Marina Shulga

May 03, 2019

19:27 GMT

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