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Following a month-long market consultation, Fastmarkets has decided to amend the payment conditions for the south Brazilian export pig iron price from payment on-delivery to partial prepayment upon readiness, while the Commonwealth of Independent States (CIS) fob Baltic Sea pig-iron export assessment now has a maximum cargo volume of 20,000 tonnes and the Italy pig-iron import price assessment now includes phosphorous content in its specifications.
All changes to all assessments are effective from June 14.
Amended specifications: Assessment: Brazil exports pig iron $ per tonne fob Vitória/Rio Brazil Phosphorous: More than 0.1% Quantity: 20,000-70,000 tonnes Location: fob Brazil Timing: Spot Unit: USD/tonne Payment terms: Partial prepayments upon readiness Publication: Weekly. Friday, 2-3 pm London time
Assessment: CIS pig iron exports $/tonne fob Baltic Sea Dimensions: 10-15kg Manganese: <0.09% Quantity: 5,000-20,000 tonnes Location: fob Baltic Sea Timing: 4-6 weeks Unit: USD/tonne Payment terms: Payment upon delivery Publication: Weekly. Thursday, by 3pm London time
Assessment: EU pig iron imports $ per tonne cfr Italy Dimensions: 10-15kg Manganese: >0.1% Phosphorous: Less than or equal to 0.1% Quantity: Minimum 5,000 tonnes Location: cfr Italy Timing: 4-8 weeks Unit: USD/tonne Payment terms: Against FCR or B/L Publication: Weekly. Thursday, by 3pm London time
All historical data relating to these price assessments prior to the amendments will remain available in the pricing section of the Fastmarkets’ website.
To provide feedback on these price assessments, or if you would like to provide price information by becoming a data submitter to the Brazilian, the CIS and Italian pig iron assessments, please contact Marina Shulga by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Marina Shulga, re: global pig iron prices.
To see all Fastmarkets’ pricing methodology and specification documents go to www.metalbulletin.com/prices/pricing-methodology