The weekly Davis Index for basic pig iron (BPI) fell by $29/mt to $665/mt cfr New Orleans port on Friday following fresh transactions at lower prices from Russia and Ukraine. The weekly Davis Index for CIS BPI dropped by $23/mt to $633/mt fob Black Sea.
A few new US BPI import deals for around 50,000mt each have transpired since mid-week. These deals originated in Russia and Ukraine at $665/mt cfr Nola. The new exchanges follow last week’s raised offer levels, some as high as $730/mt cfr Nola that did not result in transactions in the USA, though a Ukrainian supplier sold a cargo to Canada at $730/mt cfr.
Sources expect the US pig iron import market to temper until domestic scrap trading commences or settles next week, but some CIS exporters are trying to negotiate new deals.
The Davis Index for nodular pig iron (NPI) imports dropped by $30/mt to $718/mt cfr Nola. The material remains in limited supply with offers involving July or later shipment. The latest offers for NPI this week are at $710-730/mt cfr Nola with bids just under, compared to last week’s level at $750-780/mt cfr Nola.
US hot briquetted iron (HBI) imports decreased by $7/mt to $468/mt cfr Nola. New offers or bids have not been heard for the grade, but the material’s price movements are based on most recent offers along with a price comparison with similar grades.
The weekly Davis Index for CIS pig iron in Italy dropped by $20/mt to $663/mt cfr on Friday amid lower prices at alternative outlets and slow negotiations in Italy.