On August 3, SteelOrbis reported ex-CIS basic steelmaking pig iron offers to the US at $350-360/mt FOB or $360-375/mt CFR US port, while low-manganese or foundry grade pig iron was heard offered at $375-400/mt FOB Baltic Sea or approximately $385-410/mt CFR US port.
According to sources, offers for ex-CIS basic steelmaking pig iron to the US are presently at $370-375/mt FOB or $380-385/m CFR US, while low-manganese or foundry grade pig iron offers are at $395-405/mt FOB or $405-420/mt CFR US port. In CFR terms, these prices reflect an increase of $20/mt from the bottom of the previously reported ranges and $10/mt from the top of the previously reported ranges for both pig iron grades.
Recently, a Russian pig iron producer has been heard closing a deal for low-manganese pig iron at $400/mt FOB, but destination could not be confirmed. Regardless, according to the source, the active sale from the CIS in present market conditions, along with the higher Brazilian pig iron offers and transactions, gives support for also higher CIS to US deals. Additionally, the limited pig iron supplies available from Brazil make CIS pig iron for both grades a viable option for US steelmakers.