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
