Price negotiations for pig iron exports from the Commonwealth of Independent States have begun again after a silence lasting from late May, although no new bookings from the key outlets of the United States and Italy have yet been heard.
The US pig iron market, the largest consumer of the raw material in the world, has improved because of the higher prices for scrap and finished steel products in the country. This may be driving the higher pig iron prices in other global outlets, in Italy in particular.One CIS pig iron exporter estimated the price for the raw material in the US market at $410-415 per tonne cfr, or around $390-395 per tonne fob Black Sea. That is $5...