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

The weekly Davis Index for CIS basic pig iron surged by $15/mt to $396/mt fob Black Sea on Friday amid robust demand in the global market. The consistent price uptrend for ferrous scrap and steel products around the world supported pig iron price increase.


Trading was active in the CIS export pig iron market in the third week of November, with suppliers achieving higher prices. A Russian producer sold a large cargo to China at $422/mt cfr for February shipment, while most bids varied in the range of $410-415/mt cfr. Last week, a booking of CIS material in China was reported at $408/mt cfr.


The weekly Davis Index for CIS pig iron in Italy jumped by $20/mt to $415/mt cfr on Friday as negotiations resulted in a deal. The buyer was compelled to accept a significant price increase for Ukrainian material, considering transactions at alternative outlets.


New deals were also closed in the Turkish market during the week. Thus, Ukrainian pig iron was sold at $415/mt cfr, while Russian material changed hands at $417/mt cfr. Last week, a cargo of Ukrainian pig iron was booked at $398/mt cfr.

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