Although ex-CIS basic pig iron offers have remained stable over the past week at $335-345/mt FOB, demand in the key consuming destinations is still low. As a result, although even today there are offers which are $10/t higher available from some suppliers, the general mood remains downward, SteelOrbis understands. In the meantime, according to market sources, the CIS is almost sold out for September production basic pig iron.
Ex-CIS pig iron offers to the US have been reported by some suppliers within the range of $360-365/mt CFR, slightly below the levels of last week. Meanwhile, some say that $370/mt CFR is also available in the American market, though unlikely to result in any deal.
In Turkey, basic pig iron offers are within the same FOB range, but have not been considered workable by the key buyers, SteelOrbis understands. As a result, some buyers have preferred to restock with alternative raw materials, sources say.