Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for CIS basic pig iron increased by $6/mt to $282/mt fob Black Sea on Friday as sales to China and Italy were reported.


Two CIS pig iron exporters succeeded in closing deals because of demand from the two countries. A Russian supplier sold 50,000mt of the material to China at $305/mt cfr for July shipment this week. 


In another deal, a Ukrainian producer sold 5,000mt of pig iron to Italy at $305-307/mt cfr at the end of last week because of which, the weekly Davis Index for CIS pig iron in Italy rose by $6/mt to $306/mt cfr on Friday.


Some negotiations are underway in the Chinese and Italian pig iron markets. Offers from the CIS were heard at around $310/mt cfr, while buyers tried to resist higher prices, indicating that the uptrend in the global ferrous scrap segment is suspended.


There is also an interest in pig iron purchases in Spain, where CIS exporters targeted $330/mt cfr.


The US import pig iron market has remained inactive, with no firm bids or offers reported this week.

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