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13 Dec
16:41

Merchant pig iron deadlock resolves with US sale

The global merchant pig iron market has eased out of the deadlock of the last two months in the western hemisphere, as the US market maker bought a large Brazilian lot. The deal, as was expected previously, required a sacrifice on both parts, as the steelmaker raised its price expectation, and the Brazilian seller lowered theirs. From the long-standing bid indications at $420-430/tonne cfr Nola, the US buyer moved up around $20/t, while the Brazilian seller lowere…
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