Sources informed SteelOrbis today that “pig iron pricing has peaked.” One source noted, “I don't see pig iron moving down too much or too fast but I don’t see a further up this summer.”
In late April, SteelOrbis reported pig iron prices at $441-452/mt ($400-410/nt) FOB Chicago warehouse for basic steelmaking pig iron and $501-507/mt ($455-460/nt) FOB Chicago warehouse for nodular and foundry grades.
As new import pig iron shipments begin to arrive in the US this summer at prices expected to trend down by $10-20/mt, domestic pig iron prices are expected to begin trending down as well. As noted by a dealer, the present supply of pig iron is in steady demand, therefore, pricing remains in the same range as late April but expected to decline slowly for June or July spot purchases.