According to sources, ex-CIS basic steelmaking pig iron deals in the US were concluded in late January at around $390-395/mt CFR US port, which translates roughly to $370-375/mt FOB Black Sea or $370-380/mt FOB Baltic Sea.
Sources inform SteelOrbis that while US offer prices are not yet moving down, US buyers are on the sidelines awaiting the possibility of lower prices later in the month due to downward pressure on offers and recent deals being heard in the market to destinations such as Turkey and Italy at around $345-355/mt FOB Black Sea. Should these FOB prices materialize for the US, buyers are expecting the possibility of deals in the range of $365-380/mt CFR US port, which would be lower than the late January deals. Although, a separate source noted that with the recent rebound in global scrap prices, it is unknown whether the expectations will be realized.
Offers on ex-CIS basic steelmaking pig iron to the US remain stable at $370-380/mt FOB from various sea ports with most offers in teh lower end of the range.