March 2017 | Steel Raw Materials
Seaborne MPI prices rise on tighter supply: Iron Metallics Market Analysis
US steel mills had previously been reluctant to procure volumes from Ukraine owing to the potential of supply disruptions.
Ukrainian merchant pig iron exports rose 66% month-on-month to 238kt in January. MBR understands that previously withdrawn market participants were enticed by the relative competiveness of Ukrainian-origin merchant pig iron (MPI) compared to prime grade scrap units. Indeed, Ukrainian MPI exports to the USA surged 1963% month-on-month to 144kt in January, more than offsetting the 92% (105kt) decline in exports to Italy. Notably, this represents the largest volume of exports to the USA from Ukraine since August 2015. This swing in trade flow indicates the competitiveness of Ukrainian material in the US...
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