Published by:Marina Shulga<>
25 Apr 2025 @ 16:41 UTC

Pig iron import prices to Italy and export prices from Russia fell due to low demand and depressed steel and scrap prices during the week to Thursday April 24.

Demand is very poor here and no real business, all is quite here also because of a vacation period till May 5, one buyer in Italy said.
In addition, there were no offers of exports to Italy from Ukraine and Brazil, the main alternative to Russian exporters, because buyers are not yet ready to pay for pig iron at similar prices to buyers in the US — the largest global importers.
[In Italy] stocks are huge, thus buyers there will not accept high prices now, and the falling scrap market reduces the workable level for pig iron a lot, a trader said.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey — a strong indicator for metallics markets — was calculated at $325.23 per tonne on Thursday, down by $20.79 per tonne from $346.02 per tonne on April 17.
Estimates of the workable price in Italy were predominantly at $430-460 per tonne CFR; buyer estimations were heard even as low as $400 per tonne CFR.
Consequently, Fastmarkets’ weekly price assessment for pig iron, import, cfr Italy was $430-460 per tonne on April 24, down from $450-470 per tonne a week before.
Fastmarkets’ weekly price assessment for hot-briquetted iron, cfr Italian ports was $310-330 per tonne on Thursday, down from $330-355 per tonne a week before on lower estimates of a workable price.
With the decreasing workable price level, material from Qatar became uncompetitive and offers disappeared, Fastmarkets heard. The only available material heard was from Venezuela — which normally has the lowest offer — at $325-330 per tonne CFR.
Exports from Russia Offers of Russian pig iron to Turkey were reported at $350 per tonne CFR, nearly $330 per tonne FOB. During the first half of April offers, were at $380 per tonne CFR, or about $350 per tonne FOB.
Despite offer reductions, demand has not appeared, mainly because of falling scrap [prices], one trader from Turkey said. Buyers want pig iron if that is cheaper than scrap, so its price should reduce even more.
Estimates of the workable price for the Asian market was about $315 per tonne FOB.
Fastmarkets’ weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $315-330 per tonne on Thursday, down from $325-355 per tonne a week before.