The market for pig iron exports from the Commonwealth of Independent States (CIS) remained silent during the week ended Thursday May 2, with suppliers taking public holidays and the price of scrap unclear in the United States, the key outlet market.
Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $335-340 per tonne fob Black Sea on Thursday, narrowing upward from $330-340 per tonne fob a week ago."Both Russian and Ukrainian suppliers are on [public] holidays this week, so it's not unusual that the market is dead," one trader told Fastmarkets.Offers remained at $365-370 per tonne cfr to all destinations - the US, Italy and Turkey. This was equivalent to about $340-350 per tonne fob Black Sea.Meanwhile, buyers were silent while they awaited clarity to emerge on scrap prices, mainly in the domestic...