The weekly Davis Index for CIS basic pig iron increased by $5/mt to $553/mt fob Black Sea on Thursday amid bullish sentiment and limited material availability.
CIS pig iron exporters continued selling small cargoes for distribution and foundries. A Russian supplier sold 10,000mt of the material to Western Europe at $580/mt fob Baltic Sea and 6,000mt to Asia at prices equivalent to $580/mt fob Black Sea.
Buyers in Turkey were negotiating for pig iron loads during the week, but no deals were confirmed by the time of publication.
The weekly Davis Index for CIS pig iron in Italy inched up by $1/mt to $586/mt cfr on Thursday. Offers were reported at $590/mt cfr this week, while the most recent transactions were fixed at $585-588/mt cfr to traders.