Italian pig iron prices remain flat, with some producers not quoting due to persistent shortages. Demand from distributors who buy directly from CIS producers is lively and, this week, pig iron makers are expected to go back to quoting at least $590-600/tonne cfr Italy, Kallanish learns from market participants.
Stocks at the Port of Marghera, the main steel hub in Italy, are average. Last week, mills continued to purchase 1,000-2,000 tonnes from Marghera at the equivalent of $585-600/t cfr. In November, distributors have bought large tonnages of pig iron at $580-585/t cfr Italy. The country will be receiving between 60,000t and 80,000t of pig iron purchased in November, sources believe.
No Brazilian material has been sold in Italy so far this month. Brazilian offers are hovering at $570-580/t cfr but only for larger, 30,000t vessels.
Meanwhile, Italian billet prices remain at €600-620/t ($677-688) ex-works and no billet exports were heard last week.
Natalia Capra France