The price paid for CIS pig iron rose in the week to Thursday October 29 on a new sale to the United States and Asia amid low availability, sources said.
*** high-manganese pig iron
Fastmarkets’ weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $355-360 per tonne on October 29, up from $۳۵۰-۳۵۳ per tonne a week earlier.
A sale of Russia-origin material with December shipment was done at $377 per tonne cfr to the US and despite the sale being done from the Baltic Sea it still indicated the general market level, which means that if the sale was done from the Black Sea it would be about $357 per tonne fob.
Another sale of material from Russia was heard done to Taiwan at $392 per tonne cfr, sources said.
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“The sale was done from the Fat Eastern port – [which isn’t a regular port for pig iron shipments from Russia] – for a small tonnage and was completed between a non-regular supplier to a non-regular buyer [of CIS-origin material] so it’s hard to estimate its impact on the market level,” one international trader said. “But if this sale is for January shipment that means that CIS producers’ order books are almost full for the year.“
*** China, Italy and Turkey
No market activity was reported in the other markets that accept CIS-origin pig iron, China, Italy and Turkey, sources said.
“The key buyer in China has huge stocks and a lot of material is still on the way to China so they decided to pause on purchases,” another trader said.
The market level in China is said to be around $385-387 per tonne cfr, which would be about $353 per tonne fob Black Sea, although many suppliers in the region were ready to sell at this price, Fastmarkets heard.
“Almost all pig iron tonnage from the CIS is sold out for this year, which is why suppliers can insist on their offers, but for buyers here it’s too high,“ a source in Turkey said.
Offers for CIS-origin material in Turkey were reported at $375-380 per tonne cfr, or about $363-365 per tonne fob Black sea, trading sources said.
In Italy, offers from the CIS were heard at $375-380 per tonne cfr, or about $352-360 per tonne fob Black Sea.
“No one wants to restock in Italy because everyone has become more and more cautious about the second wave of the Covid-19 pandemic,“ a third trader said.
Thus, Fastmarkets’ kept its weekly price assessment for pig iron, import, cfr Italy unchanged week on week at $370-375 per tonne on October 29.
*** low-manganese pig iron
Fastmarkets’ price assessment for low-manganese pig iron, export, fob main port Baltic Sea, CIS was $365-380 per tonne on Thursday, also unchanged week on week after no market activity was reported.
The sale to the United States from the Baltic Sea was not included in the assessment because it was done for at least 50,000 tonnes, which according to Fastmarkets’ specifications exceeds the bookings limit of up to 20,000 tonnes.
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