[Ferro-Alloys.com]Pig iron pricing in most major markets continued to trend sideways and buying remained generally weak. US demand for scrap supplements has been particularly sluggish and it is reported that no new cargos have been booked over the past couple of weeks. Brazilian producers have attempted to increase offer prices into the US for pig iron, currently $415 per mt f.o.b., but increased strength in the domestic steel market has helped to relieve pressure on producers as they are able to reduce reliance ? albeit temporarily ? on the export market. With Brazilians in no desperation to sell and US steel producers in no hurry to buy, there has been little to move prices in recent weeks.

 

In Europe, pig iron import prices increased by a modest $5 per mt ($410 per mt f.o.b.) over the past month. Nonetheless, demand has been stronger as exchange rate fluctuations between the euro and the US dollar have made pig iron import prices exceptionally competitive against prime grade scrap in Italy. Italian producers have reportedly increased pig iron usage rates as a result, reducing the share of prime grade scrap in their melts.