On August 18, SteelOrbis reported ex-CIS basic steelmaking pig iron offers at $370-375/mt FOB Baltic Sea or $380-385/mt CFR US, while low-manganese or foundry grade pig iron offers were reported at $395-405/mt FOB or $405-420/mt CFR US port.
According to sources, CIS basic steelmaking pig iron offers continue to be relatively stable at $370-375/mt FOB Baltic Sea or $380-385/mt CFR US port, although sources say $380/mt FOB is “in the realm of expected incoming offers in the next few days as they are being heard in the EU” and that would translate to approximately $390/mt CFR US port.
As deals for CIS pig iron have been heard in the market at up to $405-410/mt FOB Baltic Sea for low-manganese or foundry grade, offer prices increased to $400-420/mt FOB Baltic Sea. This price translates to approximately $410-430/mt CFR US port. In FOB terms, prices increased $5/mt from the bottom the previously reported range and $15/mt from the top of the previously reported range. In CFR terms, prices increased $5/mt from the bottom of the previous range and $10/mt from the top of the previous range.