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

The weekly Davis Index for CIS basic pig iron increased by $6/mt to $357/mt fob Black Sea on Friday as suppliers remained firm amid limited allocation of the material.


No pig iron sales were reported from the Black Sea basin this week. However, CIS exporters raised their offer prices as most of them have sold all available tonnages for shipment in October. Some of them have even sold cargoes due to be shipped in November. With limited inventory for sale, CIS suppliers are now targeting $395-400/mt cfr China, with deals closed at $385-389/mt cfr in the first week of September. Chinese buying activity was lower this week than the prior.


The weekly Davis Index for CIS pig iron in Italy rose by $5/mt to $371/mt cfr on Friday as suppliers insisted on higher prices. Some offers for the material from the CIS were reported at $375-380/mt cfr Italy, while it was traded in the range of $365-370/mt cfr last week.


There were some negotiations in the USA this week. Bids were heard at around $365/mt cfr, but most market participants doubt that CIS sellers will accept trades at this price, considering prices at alternative outlets.

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