The weekly Davis Index for the CIS basic pig iron inched up by $1/mt to $326/mt fob Black Sea on Friday, amid bullish supplier sentiment due to limited availability of the material.
The weekly Davis Index for CIS pig iron in Italy increased by $2/mt to $343/mt cfr on Friday after a Ukrainian producer sold pig iron at around $343/mt cfr to an Italian trader recently. However, demand from Italian mills stays weak and their bids do not exceed $335/mt cfr.
No new deals were reported in the US this week, though a sale from Russia that was disclosed on Feb 25 at $347/mt cfr for 60,000mt of pig iron, was done last week. Another Russian exporter traded the material at the same price that time, as reported by Davis Index.
CIS pig iron suppliers remain firm as some of them have already sold all available tonnages of March and April production. Most offers vary in the range of $325-330/mt fob Black Sea to any destination.