CIS PIG IRON: Market down on weak HRC prices, scrap

The market for pig iron exports from the Commonwealth of Independent States (CIS) has softened over the past week on weak finished steel products prices in the key outlets – the United States and Italy, according to sources.

Fastmarkets’ weekly price assessment for high-manganese pig iron exports from the CIS was $320-325 per tonne fob Black Sea on Thursday June 20, down by $5 per tonne week-on-week.  “When there is no demand for final steel products, raw material prices should go down,” one trader said. “That is the case with pig iron; its price will reduce under the pressure of weak demand for HRC.” The domestic fob US Midwest index for HRC, which requires merchant pig iron for EAF-based steel production, was $27.07 per hundredweight ($584.22 per...

Published

Marina Shulga

June 21, 2019

10:25 GMT

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