CRU
October 15, 2023
CRU: Ore-Based Metallics Prices Mixed as Demand Weakens
Written by Brett Reed
Prices for ore-based metallics were mixed month-on-month (MoM) as lower finished steel production weighs on pig iron demand. Supply out of the Brazilian market continues to tighten as producers look to raise prices in the near term.
In the CIS, pig iron prices increased $10 per metric ton MoM to $365 per metric ton FOB Black Sea. Local mills continue to focus on crude steel production, causing output and exports of merchant pig iron to decline substantially. The primary export locations for Ukrainian material remain Poland and Romania as exporters continue to face logistical issues, with the port of Danube sustaining an attack in September.
