For the week ended December 30, basic
steelmaking pig iron (high manganese) offers from CIS were heard at $310-315/mt FOB Black Sea and from Brazil at $310-320/mt FOB Brazilian port.
For the first week in January, offers continue to be stable as buyers and sellers await further market indicators. According to market sources, “The next two weeks will be important in understanding both domestic demand and global market conditions. Yet, it may not be until early February that we see clearer market direction.
Pig iron demand has been weak in the
US, but it could increase given the domestic optimism.”
While the offers attempted to move transaction prices up, market sources report the last few deals from the CIS region at year end were as follows: $300-305/mt FOB Black Sea and $320/mt CIF New Orleans. The last
US deal from Brazil was reported at $320 CFR New Orleans earlier in December.