Pig iron prices receive support from scrap and iron ore
Friday, 11 April 2014 18:00:43 (GMT+3)
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Istanbul
Pig iron prices have been moving on an uptrend after recent increases in prices of scrap and iron ore. Ex-Ukraine pig iron offers which had previously declined to the level of $370/mt FOB, have increased during the last two weeks and are now in the range of $380-390/mt FOB. Ukrainian pig iron producers are targeting price levels of $390/mt or higher starting in the coming week, but price expectations in their main export markets such as Turkey and Italy are in the range of $380-385/mt FOB. Market sources say that the latest ex-Ukraine pig iron offers to Turkey are in the range of $400-410/mt CFR.
After previous increases, prices of both iron ore and scrap have declined towards the end of the current week and it will become clear in the coming week whether pig iron prices will be affected by the decreases in the prices of these raw materials.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.
