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Market sentiment improves, Black Sea pig iron prices rise


In the week ending May 31, the black sea pig iron market performed strongly, with new orders and overall optimism driving prices up. At present, the price of pig iron exported by Russia has reached USD 450-455/ton CIF Italy and USD 445/ton CIF Türkiye HC460LA steel, about USD 415-420/ton FOB Black Sea. Some sellers have expressed that the market sentiment is already relatively optimistic, while some buyers believe that the current prices are too high.

We have learned that a batch of 20000 ton HC460LA steel orders has been completed, with exports to Western Europe and a shipping schedule in June. The price is $418 per ton FOB Black Sea. Prior to this, an order of 20000 tons was reached on May 23rd, exported to Italy, at a price of $400/ton FOB Black Sea ($445/ton CIF Italy).

The EU's quota for Russian HC460LA steel pig iron is gradually being depleted, and the price of Russian pig iron is receiving some support. The market demand is still limited, with a shortage of scrap steel in Italy. The demand for pig iron has been stable recently, while the demand for pig iron in the Western European market is relatively small.

  • Source: Abstract
  • Editor: Shirley

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