Diving scrap, billet and slab prices weigh on Black Sea pig iron

摘要

London—Black Sea merchant pig iron trading has become muted with many buyers waiting for more clarity on actual workable price levels amidst sharp falls seen in other markets including scrap, billet and slab, sources said Friday. The Platts weekly pig iron assessment was $310/mt FOB Black Sea on Friday, down $22.50/mt on week. US buyers showed no interest in entering negotiations for new CIS-origin pig iron cargoes, a trader said. He explained it by the anticipation of price reduction in the US domestic scrap pricing in the coming weeks.