CIS PIG IRON: Market follows uptrend in scrap

Export pig iron prices from the Commonwealth of Independent States have moved higher during the week ended Thursday December 12, following the uptrend in the scrap market, source told Fastmarkets.

Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea was $310-315 per tonne on December 12, up by $5 per tonne week-on-week.
"Prices for scrap [a relative pig iron substitute in steel melting] are going up globally and that supports pig iron, but not as much as it could be because the pig iron price was overestimated when scrap was weak," one trader told Fastmarkets.

In the United States - the largest global pig iron outlet - prime scrap prices...

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