CIS-origin pig iron import prices to the US have increased further over the past several weeks due to limited supply given the absence of several large Ukrainian firms such as DMZ and Metinvest in the global market. Ukraine’s railroad blockages have greatly affected that market’s ability to produce pig iron and deliver it to the necessary ports for export.
Basic steelmaking pig iron (high manganese) prices from the CIS region are being heard at $315-330/mt FOB Baltic Sea, reflecting an increase of $5/mt in the past several weeks, when offers were heard at $310-325/mt FOB Baltic Sea. Those offers had also increased from price levels reported on February 24 of $300-315/mt FOB Baltic Sea.
This week one southern CIS mill has been heard with an offer to the US for nodular and foundry pig iron material (low manganese) at $405-410/mt CFR US East coast port, or approximately $390-400/mt FOB Black Sea, according to a source.
Another source told SteelOrbis the average price offers for low manganese pig iron offers from the Northern CIS region are more attractive and are being heard at $370-390/mt FOB Baltic Sea. This price range has increased over the past month as prices were heard at $340-350/mt FOB Baltic Sea in early March and $330-340/mt FOB Baltic Sea in late February.