The weekly Davis Index for CIS basic pig iron rose by $2/mt to $320/mt fob Black Sea on Friday as suppliers were firm amid limited allocation of the material.
Buying activity remained high in the Chinese pig iron market with some negotiations reporting bids at $355/mt cfr and offers from CIS countries at $360/mt cfr this week. However, information about a deal within this range was not confirmed by the time of publication. Last week, sales from Russia to China were reported at $353-354/mt cfr for September and October shipments.
Demand for pig iron rose in Turkey this week resulting in a Ukrainian supplier selling 10,000mt of the material at around $330/mt cfr to a Marmara-based company.
Trading activity was muted in the Italian pig iron market. The weekly Davis Index for CIS pig iron in Italy increasing by $2/mt to $335/mt cfr on Friday as exporters insisted on higher prices, referring to sales to alternative outlets.
A Russian supplier sold 10,000mt of pig iron at $338/mt fob Baltic Sea to Spain for September shipment and raised offers from this region to $340/mt fob.