Ex-CIS pig iron prices for January production have increased by around $10/mt from mid-November, supported by the positive finished steel markets and higher import scrap prices in Turkey. Currently the sellers are in the market with $305-310/mt FOB.
Negotiations with the US buyers continue with $330/mt CFR prices generally being under discussions. Sources report that one of the mills has already sold a cargo at this level recently, while last week a sale of 60,000 mt at $326/mt CFR was closed, SteelOrbis understands.
In Italy the demand is said to be moderate. According to the sources, a cargo was booked few days ago at $330/mt CFR; more deals might be closed shortly.
Turkey has been active also. One of the Russian mills has sold 20,000 mt at around $320/mt CFR. Some negotiations are reported at $10/mt higher levels. According to the sources, the demand for pig iron in Turkey is supported by sufficient HRC sales and high price for flats overall. In addition, 7,000 mt of low manganese pig iron were sold to Turkey at $330/mt CFR few days back, SteelOrbis has learned.