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

The weekly Davis Index for CIS basic pig iron dropped by $6/mt to $356/mt fob Black Sea on Friday amid lower demand.


Business activity decreased in the CIS export pig iron market as Chinese importers of the material paused bookings amid holidays in the Asian nation. The most recent deals were closed at $385-390/mt cfr last week. US pig iron importers stepped back, waiting for their domestic ferrous scrap market for October to settle before making further decisions, while a cargo of pig iron was purchased at $387/mt cfr around a week ago.


This week, the only transaction for CIS pig iron was fixed in Turkey, where a trader bought a cargo from Ukraine at $375/mt cfr. It should be noted though that Turkish mills are not ready to accept these price levels and their bids are reported in the range of $360-365/mt cfr.


The weekly Davis Index for CIS pig iron in Italy remained unchanged at $378/mt cfr on Friday amid suspended trading. Negotiations are slow as Italian buyers are passive, however, CIS suppliers have kept their offers at $380/mt cfr.

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