As coking coal prices have slowed their upward ascent and are actually being heard lower in the spot and futures markets, basic steelmaking pig iron import offers to the US have softened.
Offers for Brazilian origin basic pig iron are being heard at $320-330/mt CFR New Orleans, a decline of $5-10/mt compared to $330-335/mt CFR New Orleans reported on the week ended December 9. A large cargo of Brazilian basic pig iron was heard purchased at $320/mt CFR New Orleans recently according to market sources close to SteelOrbis. FOB Brazil prices have also softened down by $5/mt at the bottom of the range and offers are presently found at $305-315/mt FOB Brazilian port compared to $310-315/mt FOB the previous week.
CIS basic pig iron offer prices this week have also softened $5-10/mt and are being heard at $320-330/mt CFR East coast port. Sources close to SteelOrbis report the majority of offers received are in the lower end of the range at $320-325 CFR with sellers expressing flexibility in serious negotiations.
Russian origin (low-manganese) nodular and foundry pig iron offers are being heard at $350-360/mt FOB Baltic Sea. Brazilian origin pig iron offers for the same grades continue offered at $350-360/mt FOB Brazilian port. According to sources, offer prices from both locations have remained consistent for the last three weeks. Sources note a US deal completed in the week ended December 9 for low-manganese pig iron at $355/mt FOB Baltic Sea.