CIS PIG IRON: Market sentiment improves on scrap price hike

The export pig iron market in the Commonwealth of Independent States (CIS) has benefited from the rapid rise in the price of ferrous scrap - the rival raw material for steelmaking - sources told Fastmarkets this week.

Fastmarkets’ price assessment for high-manganese pig iron exports from the CIS was $330-335 per tonne fob Black Sea on Thursday May 23, unchanged week on week. After the United States halved its import tariffs on Turkish steel, Fastmarkets’ daily index for US-origin HMS 1&2 (80:20) scrap began to increase, rising to $310.50 per tonne cfr in Turkey on May 23, up from $286.95 per tonne on May 16. Turkey is the world's...

Published

Marina Shulga

May 24, 2019

13:20 GMT

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