CIS PIG IRON: Price softens on lower buying activity; market eyes possible Russia export tax

The price of pig iron exported from the Commonwealth of Independent States dipped in the week to Thursday June 24 on reduced buying activity after key consumers restocked earlier in June and are now anticipating lower prices.

Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $610-635 per tonne on Thursday, widening downward from $625-635 per tonne on June 17.
A sale of Russia-origin pig iron was done at $645 per tonne cfr. The sale was done from the Baltic Sea and on a fob Black Sea basis would be $605 per tonne.

Normally, sales from the Baltic Sea give an indication of the workable level on a Black Sea basis. In this particular case, however, several sources said the...

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