Pig iron import prices in the United States weakened in the seven days to Friday March 26 under pressure from falling scrap values, sources told Fastmarkets.
Scrap is a relative substitute for pig iron in electric-arc furnace (EAF) steelmaking and its price is a good indicator for pig iron buyers.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $555-565 per tonne on Friday, down from $570 per tonne a week ago.
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