European pig iron prices slide $20/tonne

Dec 13, 2005 | 01:59 PM |

Pig iron prices in Europe have fallen $20 per tonne since mid-November as scrap prices slid and buyers stayed out of the market in order to keep pre-Christmas inventories low, according to producers and traders.

Prices for basic steelmaking grades of pig iron are now around $240 to $250 per tonne, cost and freight (cfr) included, to Rotterdam out of Russia.

Major Russian pig iron producers said they are now producing at near to capacity despite prices reaching close to their cost of production because they are optimistic of a slight upturn early in the New Year, although one Benelux (Belgium, the Netherlands and Luxembourg) trader source said he doubted whether producers had been confident enough to get back to full output levels.....





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