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CIS PIG IRON: Market recovers, prepares for higher prices
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Activity in the export market for CIS-origin pig iron has improved since the new year holiday period, and rising iron ore and scrap prices are expected to push up pig iron prices, sources told Metal Bulletin this week.
“Prices for iron ore are expected to increase until the end of first quarter [and] that will make pig iron sales at current prices [even more unattractive] for all suppliers,” a Russian producer told Metal Bulletin. Metal Bulletin’s export price assessment for high-manganese pig iron from the CIS region was $370-380 per tonne fob Black Sea on Thursday January 11, up by $10 per tonne week on week. “The market improved a lot after the United States scrap market moved,” a Ukrainian producer said. Metal Bulletin’s daily index for US-origin scrap was $378.51.
Source: www.metalbulletin.com
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