The weekly Davis Index for CIS basic pig iron was unchanged at $540/mt fob Black Sea on Friday due to a lack of deals.
The CIS export pig iron market was quiet, though prices remained firm amid limited availability of the material, despite a downtrend in the global ferrous scrap market. CIS suppliers are sold out for April shipment, and some of them are already well booked for May shipment.
Demand for pig iron was subdued, but most CIS exporters were not under pressure to sell and preferred to hold off negotiations as scrap prices are expected to rebound next week.
The weekly Davis Index for CIS pig iron in Italy was flat $568/mt cfr on Friday on suspended trading. Offers remained at $570-575/mt cfr, so negotiations were sporadic with no deals reported.