Russian pig iron began to rise in price – Vedomosti
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The export price of Russian pig iron returned to growth after several months of decline. This follows from the data of the Metals & Mining Intelligence (MMI) industry agency, which Vedomosti has reviewed. The price has been declining since mid-March 2023. From the MMI data, it follows that the minimum price this year was recorded on July 24 at $330/t on a FOB basis (“loaded on board”) Turkey. As of August 21 (latest available data), quotes increased by 6% and reached $350/t.
The materials note that there is no high demand for Russian cast iron yet. Turkey’s indicative pig iron prices are priced at $370-375/t CFR (delivery to port) or $350/t FOB Black Sea, while Russian pig iron offer prices are about $10/t higher. According to MMI, one of the batches of Russian pig iron was contracted at a price of $400/t in the Black Sea ports. Prices for Russian pig iron for Italy are estimated at $330–340/t FOB Black Sea.
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