This week, CIS-based pig iron suppliers have increased their export prices, due to the ongoing increase of global scrap prices and the tightness of ex-CIS pig iron supplies over the past week. Besides, the uptrend of global iron ore prices seen this week has provided support for the increases in ex-CIS pig iron prices.
According to market sources, ex-CIS pig iron offers, which were at $240-260/mt FOB last week, have increased by $45/mt on the upper end and risen by $40/mt on the lower end to $285-300/mt FOB. In this context, Ukrainian steel producer Donetsksteel’s pig iron export offers are in the range of $285-290/mt, while Russian mill Tulacherment’s pig iron quotations are at $290-300/mt, both on FOB basis. Meanwhile, a Turkish steel producer concluded an ex-Ukraine pig iron deal at $270/mt CFR last week, before the price increases seen this week