Local sources reported that the market for sponge iron exports from the Commonwealth was relatively calm in the week ending Thursday, June 17. At present, investors can not ignore market risk factors. In the following, we will evaluate this issue. Please be with Artan Press.
*** The latest situation of global sponge iron market transactions
An international trader in the global sponge iron market has said that suppliers and buyers in the United States are waiting for one of the market chains to start trading. Currently in the market, everyone is looking for an external factor to enter the market. Market observation shows that Italy is in a good position in terms of conditions and customs clearance. Therefore, relying on the volume of transit of this country in ports, we can hope for the commotion of commodity markets. In the current situation, it seems that Turkey is not interested in trading in the sponge iron market. Turkey will remain passive until the end of August.
*** Sponge irontrading rates
Sources quoted by Metal Bulletin stated that the final trading price in the sponge iron market in the United States is about $ 665-672 per ton cfr, which will be equivalent to $ 625-632 per ton FOB. Another trader said: “The highest trading price in the United States was $ 672 per tonne, but this sale was made to a specific distributor. The deal was mainly to foundries that had higher prices than steel mills.” Processor refers to a kind of resale in the sponge iron market.
*** Evaluate the activity of Italians in the sponge iron market
In Italy, offers of sponge iron from Ukraine were estimated at $ 670 per tonne cfr. That’s $ 640 per tonne fob. But the last sale in Italy was $ 660-665 per ton of cfr or close to $ 630-635 per ton of fob at $ 5,000. The market level for higher tonnages is set by market participants at $ 650 per ton cfr or $ 620 per ton FOB. It seems that the sponge iron market players are a little scared of Italian deals. Continuation of the buying process at these prices by Italy can cause the European steel market to be inflamed with stability. The Fast Market price estimate for the Italian sponge iron market, import, cfr was $ 650-665 per tonne on June 17, down from $ 660-665 per tonne last week.
*** Move to buy low manganese sponge iron
Fast Market price assessment for the low-manganese sponge iron market, exports, the main fob port of the Baltic Sea, CIS Thursday was fixed at $ 640-650 per ton FOB. Bids from a major supplier in the region were heard at $ 685-690 per tonne FOB, up from $ 650-660 per tonne in early June. Low in manganese. It should be noted that the supplier provided the materials with the September shipment.
One source has stated this issue. It seems that the European sponge iron market will be inflamed until the end of September. The main reason for this is the depot of this mineral until the end of this month to compensate for its manganese. That’s why Metal Bulletin said in a report that European suppliers are unlikely to have access to iron ore until late August and September.
*** Sponge iron deals in the Baltic states
But who are the sponge iron markets in the Baltic Sea? The main buyers of the Baltic Sea are casters in northern Europe and traders who need this material for their products. Sources said the unprecedented shortage of sponge iron in the area could potentially push up the price of the substance in the area. Because casting plants operate with high capacity utilization rates and high demand for iron ore. Currently, the labor market level has not risen, and it remains at $ 640-650 per tonne FOB.
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