CIS PIG IRON: Deal prices keep rising on bullish outlook

Prices achieved in export deals for pig iron from the Commonwealth of Independent States region continued to rise in the week to Thursday October 21, supported by limited allocations of material and bullish expectations for the future price trend.

A large volume of pig iron originating from eastern Ukraine was sold at $530 per tonne fob Black Sea to several traders early this week, Fastmarkets heard. This was $10-20 per tonne above the deal prices heard last week.
A Ukrainian producer described $530 per tonne fob Black Sea as "a discounted price" because the material originated from "a grey area." Parts of eastern Ukraine are under the control of pro-Russia rebels who reject the authority of the Ukrainian government.
The source, however, did not provide any estimates of a workable price for material originating from first-tier Ukrainian mills.

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