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    September 17, 2023

    CRU: US Pig Iron Prices Diverge From Prime Scrap Tags

    Written by Brett Reed

    Mixed trends were observed in prices of ore-based metallics as demand stayed subdued in Europe and the US. Buying activity had been limited in the US due to several upcoming mill outages and ahead of the UAW strike. However, prices have found stability despite declines in prices of prime grades of scrap.

    In the CIS, pig iron prices increased $39 per metric ton to $355 per ton FOB Black Sea. Local mills continue to favor crude steel production, causing merchant pig iron output and export volumes to decline in July and August. Additionally, high transportation costs have limited demand for Ukrainian material, with the main exporting destinations for Ukraine remaining Poland and Romania.

    Brett Reed

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    CRU: Global finished steel prices diverge, US the rare bright spot

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