CIS PIG IRON: Demand in China, low availability, strong scrap support prices

Steady demand in China, reduced availability of material and a rebound in the cost of scrap all gave support to the market for pig iron exports from the Commonwealth of Independent States during the week ended Thursday October 17, Fastmarkets has heard.

Fastmarkets’ weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $270-280 per tonne on October 17, widening upward from $270-275 per tonne a week earlier. Several sales of Ukraine-origin pig iron were heard to China at roughly $275-280 per tonne fob Black Sea, according to estimates by market sources. Before these deals, several sales from Russian pig iron exporters were heard at the same fob-basis price. Among the sales from Russia, there was one of pig iron for November shipment at around $275 per tonne fob Black Sea, and another at a higher price but with prompt shipment. Since these sales were agreed, however, the workable price for the Chinese market has weakened slightly to $270-275...

Published

Marina Shulga

October 18, 2019

15:08 GMT

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