The weekly Davis Index for CIS basic pig iron decreased by $10/mt to $493/mt fob Black Sea on Friday amid weak demand in the global market.
Negotiations were slow in the CIS export pig iron market as some suppliers tried to offer material but failed to receive firm bids since most importers expected lower prices.
The weekly Davis Index for CIS pig iron in Italy dropped by $14/mt to $516/mt cfr on Friday on suspended trading. CIS exporters reduced offers to $520-525/mt cfr from $550-560/mt cfr a week ago, but still found no interest from buyers.
No sales were reported from the CIS Black Sea region during the week, while a transaction was fixed in the Baltic Sea region for a small cargo of around 5,000mt of pig iron from Russia at $500/mt fob to Western Europe.