CIS merchant pig iron export prices kept trending down this week amid rising supply from the mills, particularly from Ukraine, market sources said.
S&P Global Platts put its weekly pig iron assessment at $280-$285/mt FOB Black Sea on Friday, indicating a midpoint of $282.50/mt FOB, down $2.50 week on week.
Some sales were reported well under $300/mt FOB, the level producers wanted to hold on to but mostly failed. A Ukrainian producer managed to sell 30,000 mt of basic pig iron for July shipment to the US market at $275-$280/mt FOB Black Sea, trade sources reported.
"But they have still 30,000 mt which they cannot currently sell at this level. I think levels of $250-255/mt FOB are realistic," a senior trader said.
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