PRICING NOTICE: Amendment to EU, CIS pig iron price specifications

Metal Bulletin has amended three European and CIS pig iron price specifications to ensure they are in line with and reflect existing market conditions.

Following a month-long market consultation, the European and CIS pig iron prices have been amended to include manganese content in the pig iron. Payment terms and minimum order size have been revised in line with current market conditions.

Amended specifications:

Assessment: CIS pig iron export $/tonne fob Black Sea
Dimensions: 10-18kg
Quantity: Minimum 5,000 tonnes (standard order to US 25,000-50,000 tonnes)
Location: FOB Black Sea
Timing: 4-6 weeks
Unit: USD/tonne
Payment terms: Against FCR or B/L
Manganese: >0.1%
Publication: Weekly. Thursday, by 3pm London time

Assessment: CIS pig iron exports $/tonne fob Baltic Sea
Dimensions: 10-15kg
Quantity: Minimum 5,000 tonnes
Location: FOB Baltic Sea
Timing: 4-6 weeks
Unit: USD/tonne
Payment terms: Payment upon delivery
Manganese: <0.09%
Publication: Weekly. Thursday, by 3pm London time

Assessment: EU pig iron imports $ per tonne cif Italy
Dimensions: 10-15kg
Quantity: Minimum 5,000 tonnes
Location: CIF Italy
Timing: 4-8 weeks
Unit: USD/tonne
Manganese: >0.1%
Payment terms: Against FCR or B/L
Publication: Weekly. Thursday, by 3pm London time

All historical data relating to these assessments prior to the amendments will remain available in the pricing section of the Metal Bulletin website.

Metal Bulletin has no financial interest in the level or direction of the price assessments.

To provide feedback on the assessments, or if you would like to provide price information by becoming a data submitter to the EU and CIS pig iron assessments, please contact Marina Shulga by email at: pricing@metalbulletin.com. Please add the subject heading FAO: Marina Shulga, re: European and CIS pig iron prices.

To see all Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html

What to read next
The March 2024 monthly averages were published today based on the index values of March 1, 8, 15 and 22.
Fastmarkets has corrected its MB-STE-0034 steel domestic plate 8-40mm, exw Northern Europe and MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe assessments, which were published incorrectly on Wednesday March 27.
The publication of Fastmarkets’ daily assessment for aluminium P1020A premium, ddp Midwest US was delayed on Wednesday March 27. Fastmarkets’ pricing database has been updated.
Fastmarkets' holiday pricing schedule for 2024 has been updated to reflect the change in the pricing frequency of its mixed hydroxide precipitate (MHP) cif China, Japan and South Korea (CJK) prices.
Fastmarkets is inviting feedback from the industry on the pricing methodologies for its steel hot-rolled coil index domestic, exw Northern Europe, €/tonne (MB-STE-0028) and steel hot-rolled coil index, fob mill US Midwest, $/cwt (MB-STE-0184) as part of its annual methodology review process.
Fastmarkets launched its first price assessment for MB-FEC-0024 Ferro-chrome 50% Cr, delivered Europe, $/lb Cr on Tuesday March 26.