Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for CIS basic pig iron rose by $5/mt to $366/mt fob Black Sea on Friday on active trading in Asia.


Demand for pig iron increased significantly in China in the first week of November amid firm steel product markets, which resulted in CIS suppliers achieving higher deal prices. A Russian exporter sold 55,000mt of pig iron from the Black Sea basin to China at $405/mt cfr, while a few days earlier CIS material from traders changed hands at $395-400/mt cfr.


The same Russian producer sold 15,000mt of pig iron from the Far East to Taiwan at $405/mt cfr.


The weekly Davis Index for CIS pig iron in Italy increased by $8/mt to $383/mt cfr on Friday as suppliers, who were bullish after selling out for December shipment, raised offers to $390/mt cfr referring to uptrends in alternative outlets. There were no deals reported in Italy as bids did not exceed $375/mt cfr.

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