Free Grey Cast Iron Pricing Trend and Forecast New York
- Location: New York, New York, NY, United States
Grey Cast Iron Pricing fell in the US market during the third quarter of 2022 as concerns about a domestic recession grew. According to market participants, the recent stagnation in the global merchant pig iron trade began to lift slightly over the last month, but the unfolding dynamic failed to raise prices. Although some market participants believe a rebound is imminent, others believe the ongoing origin-based price split will continue, with sanctioned Russian material unlikely to be sold at a significant margin to scrap. The global merchant pig iron trade has remained stagnant, reflecting low demand in all significant importing regions, with only sporadic sales at lower prices. Arrivals of previously reserved tonnes meet producers' short-term needs while softening finished product market sentiment adds to the pressure. The appetite level in the United States remains significantly low, with only a few soft indications of interest circling, mirroring the August decline. Prices thus remained southbound in Q3 2022, with participants adopting a wait-and-see attitude, waiting for the price slide to stabilize before returning to the market. Therefore, the discussions of Grey Cast Iron Plate prices for Ex-San Diego (USA) settled at USD 2428/MT.
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