This week, basic pig iron offers from the CIS countries to the global market have slipped slightly to $335-345/mt FOB. But market sources believe that prices will decrease more visibly in the short term due to the increase in the offer volume from CIS pig iron producers.
Moreover, SteelOrbis was informed that last week a CIS pig iron producer sold a cargo to the US at $355/mt CFR, while the previous deal was concluded at $10/mt higher. Commenting on this sale, the market source stated, “I should mention that the price is lower due to the high amount of phosphorus.”
On the other hand, it is heard that Brazilian high phosphorus pig iron was offered to Italy at $355/mt CFR last week.