On June 27, SteelOrbis reported ex-CIS basic steelmaking pig iron offers at $335-350/mt CFR US port.
According to sources, CIS offers today are being heard at $360-380/mt CFR US port. Compared to a month ago, offer prices increased by $25/mt from the lower end of the previous range and $30/mt from the higher end of the previous range. The increase is attributed to the opportunity presented by the recent increases in Turkish import scrap prices, stable strength in iron ore and coking coal prices, and optimistic expectations for the US domestic scrap market in the upcoming August buy-cycle.