The pig iron market in CIS was strong during the week to Thursday April 15 amid demand in neighboring outlets – though the import market in the United States was quiet.
Fastmarkets’ price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $535-550 per tonne on Thursday, widening upward from $535-542 per tonne one week earlier.
*** Ukraine-origin pig iron
A sale of 10,000-12,000 tonnes of Ukraine-origin pig iron was heard to a trader for the Turkish market at $550 per tonne fob, with prompt shipment in April, sources said.
Another sale was reported after the assessment was published at $580-585 per tonne cfr to Italy for a cargo of 5,000 tonnes, sources said. This would equate to $550-555 per tonne fob. The key pig iron buyer in Italy was pessimistic, though, estimating large volumes at ۵۶۰-۵۶۵ per tonne cfr – near $530-535 per tonne fob.
Fastmarkets’ price assessment for pig iron import, cfr Italy was $565-580 per tonne on Thursday, widening from $567-568 per tonne one week before.
*** hot-briquetted iron
Fastmarkets’ price assessment for hot-briquetted iron, cfr Italian ports was $440-460 per tonne on Thursday, down from $470-475 per tonne a week earlier due to low demand
In the US – the key export outlet for CIS-origin pig iron – the standoff between pig iron suppliers and buyers continued.
All key pig iron exporters from the CIS were heard to have a target price to the US above $600 per tonne cfr – more than $570 per tonne fob. Suppliers have been citing low pig iron availability and strong steel prices both in nearby markets and in the US.
One buyer said that offering that high “seems way outside of where the market is.“
Said an international trader: “Those [the CIS exporters] that can roll slabs and flats potentially can switch to sales of downstream products, although what is the reason behind the high pig iron offers of those mills that can roll only billet and longs [which are not as strong as the flats market]?“
One Russian pig iron supplier, who can make billet and longs said that “the local longs market in Russia is very strong, the export market for wire rod also feels good – that is why we do not have merchant billet availability and reduced availability or merchant pig iron.“
The workable price was $570-580 per tonne cfr, or $535-545 per tonne fob, according to US buyers.
*** low-manganese pig iron
The assessment for low-manganese pig iron export, fob main port Baltic Sea, CIS was unchanged at $530 per tonne fob on April 15. No market activity was reported.
Offers from the CIS’ largest supplier to Europe were as high as $620 per tonne fob. There has been no demand reported at that level, with the latest deals done at $530 per tonne fob.
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