No major sales were completed in the Commonwealth of Independent States' pig iron export market during the week to Thursday September 26, although market levels went down on free falling scrap prices and a general pessimistic mood.
Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS declined to $290-295 per tonne on Thursday September 26 from $295-305 per tonne a week earlier."CIS mills say they do not want to go down below the breakeven point and everybody is waiting for anything from the United States [the largest outlet, where no spot sales have been heard in over a month]," one trader said. Market sources estimated that CIS suppliers' workable level would be $300-305 per tonne fob Black Sea, but estimations on buyers' price ideas were, "far below $300 [per tonne fob]" - around $270-275 per tonne fob Black Sea - and lower in weak scrap...