During the past week, CIS-based pig iron producers’ export sales have accelerated, with international demand improving as expected. It is reported that demand for ex-CIS pig iron has increased particularly in the US and Italy. However, it is observed that pig iron offers from the CIS region to international markets have remained stable week on week at $385-395/mt FOB.
As mentioned in SteelOrbis’ report published last week, pig iron demand in the US for June deliveries is expected to increase, and so pig iron sales from the CIS region to the US are still expected to accelerate. SteelOrbis has also been informed that an ex-CIS pig iron deal has been concluded in the US over the past week at $410-415/mt CFR, indicating an increase from the $410/mt CFR recorded last week.
Additionally, market sources state that an ex-CIS pig iron booking has been made in Italy in the past seven days at $405-410/mt CFR. Whereas demand for pig iron in Italy has improved slightly compared to last week, Turkish steel mills have once again taken a break from pig iron purchases with no new deals for ex-CIS pig iron concluded in Turkey in the past week.