CIS PIG IRON: Buyers' inertia, pessimism push prices down

No significant trading activity was reported in the key export outlets for pig iron from the Commonwealth of Independent States during the week ended Thursday October 3, with buyers pessimistic about falling scrap prices in the United States.

The US is the largest global importer of pig iron.
Fastmarkets’ weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, declined to $270-280 per tonne on Thursday, from $290-295 per tonne a week earlier.
“Trade will resume when the first deal [is agreed] to the US and it becomes clear how low [the price of] pig iron has dropped,” one trader said.

“Now there is a [scrap] buying week in the US, and it seems that the scrap price will...


Marina Shulga

October 04, 2019

13:08 GMT