The positive sentiment in the global pig iron (BPI) market has sustained with the new deals done for ex-CIS material at the end of previous week.
Two cargoes of Ukrainian BPI, 50,000-55,000 mt each, for July shipment, were booked to China through traders at $322/mt CFR and $325/mt CFR last week, respectively, versus $320/mt CFR fixed in the previous deal. "Now it is interesting to see how the market continues. China looks quite firm. But the USA will show direction if they book again this round," a trader says.
As SteelOrbis has learned, the price level of the mentioned deals is estimated at around $290/mt FOB.