The weekly Davis Index for the CIS basic pig iron was flat at $325/mt fob Black Sea on Friday as limited availability of pig iron prevented a drop despite the downtrend in ferrous scrap.
Trading activity revived in the CIS pig iron market after a Russian supplier sold a large cargo to the US at $346/mt cfr this week and Russian material changed hands at $345-348/mt cfr a week ago.
A Ukrainian pig iron producer closed a deal at $365/mt cfr to the UAE recently and sold several small cargoes to Eastern Europe at $350-360/mt cfr. Another Ukrainian exporter withdrew from the market because all its pig iron was sold to China at $355-357/mt cfr two or three weeks ago.
The weekly Davis Index for the CIS pig iron in Italy remained unchanged at $343/mt cfr on Friday with no bids reported amid sluggish demand. CIS pig iron suppliers withdrew offers to the region, after finding buyers at alternative outlets.