The EU’s quota of pig iron from Russia is gradually being exhausted

The EU’s quota for Russian pig iron is gradually consumed, and the price of Russian pig iron has been supported to a certain extent. Market demand is still limited, there is a shortage of scrap in Italy, and the recent demand for pig iron is stable, while the demand for pig iron in Western Europe is smaller.

The Black Sea region pig iron market performed strongly, with new orders and general sentiment driving prices higher. Now the price of Russian pig iron exports has reached 450-455 US dollars/ton CIF Italy and 445 US dollars/ton CIF Turkey, about 415-420 US dollars/ton FOB Black Sea. Some sellers say sentiment is now more philosophical, while some buyers think prices are too high. It is understood that a batch of 20,000 tons of orders have been sold, the export of steel pipes is Western Europe, the shipping date is in June, the price is 418 US dollars/ton FOB Black Sea. Prior to this, there was an order of 20,000 tons arrived on May 23, export to Italy, the price of $400 / ton FOB Black Sea ($445 / ton CIF Italy).