The rapid growth of ex-CIS basic pig iron (BPI) prices appears to be temporarily on hold. SteelOrbis has learned of a new booking of ex-Ukraine BPI, for end of January production, done to the US at the beginning of the current week at $455/mt CFR Port of New Orleans. Although the previous deal for ex-CIS material was done last week at $3/mt lower, market insiders are certain that the difference is on the account of the freight rate.
There has also been one more booking of ex-Ukraine BPI done to a distributor in Turkey at $475/mt CFR. However, taking into account the small volume (5,000 mt), market insiders do not consider this deal to provide an indication of the market level.