CIS PIG IRON: Market dead on seller, buyer standoff

The export market for pig iron from the Commonwealth of Independent States (CIS) remained dead silent over the week to Thursday September 19, with sellers and buyers yet to agree on a workable price level for both sides.

Fastmarkets’ weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS reduced week on week to $295-305 per tonne on Thursday September 19, down from $305-310 per tonne a week earlier.
“There is confrontation between buyers and sellers,” one source from the CIS said. “Some big customers are very aggressively pointing to plunging [pig iron substitute] scrap prices, while CIS [suppliers] are being squeezed by raw materials prices.”

In Turkey - the largest scrap import market - Fastmarkets’ daily index for US-origin HMS...

Published

Marina Shulga

September 20, 2019

11:30 GMT

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