On September 15, SteelOrbis reported ex-CIS offers for basic steelmaking pig iron to the US at $390-395/mt CFR US or $380-385/mt FOB, and low manganese or foundry grade pig iron at $415-422/mt FOB or $425-432/mt CFR US.
Due to the global decline on raw material prices such as iron ore and coking coal along with the potential for sideways to slight downward pressure on some scrap grades during the upcoming US October scrap buy-cycle, sources report declining ex-CIS pig iron offers to the US via the Baltic Sea. Offers are reportedly at $370-380//mt FOB or $380-390/mt CFR US port for basic steelmaking pig iron. This range represents a decline of $10/mt from the bottom of the previously reported range and $5/mt from the top of the same range.
The same downward trend is evident in low manganese pig iron offers that are now reportedly at $410-415/mt FOB or $420-425/mt CFR US. The updated offer range represents a decline of $5/mt from the bottom of the previously reported range and $8/mt from the top of the same range.