CIS PIG IRON: Price rolls back in bearish market

The pig iron export price from the Commonwealth of Independent States has rolled back under pressure from the bearish mood caused by the global spread of the novel coronavirus (2019-nCoV).

Fastmarkets’ weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $320-327 per tonne on March 12, down from $329-340 per tonne a week earlier.
“Crashed oil prices, Black Monday on the stock exchange, expectations of weaker scrap prices in the United States in April; [all these things] make the pig iron market mood rather bearish,“ one trader said.

In the US,  according to estimates by market participants, prices fell to $345-350 per tonne cfr - equivalent...

Published

Marina Shulga

March 13, 2020

18:48 GMT

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