London—China continues to be the main supporter of the Black Sea merchant pig iron prices, sources said July 17. Transaction prices achieved by CIS sellers in the Chinese market have been gradually going up. The most recent deals were closed at $354/mt CFR for 50,000 mt, October shipment and $353/mt CFR for 55,000 m, September, both from Russian mills, sources reported. The two bookings netted back to around $318-$324/mt FOB Black Sea, assuming the freight cost between $30-$35/mt.
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