Platts clarifies pig iron FOB Black Sea Export assessment criteria amid ongoing disruption in trade flows

Platts, part of S&P Global Energy, in line with its assessment methodology, will consider Pig Iron Black Sea Export FOB Black Sea Port relative to the Platts TSI HMS 1/2 80:20 CFR Turkey scrap assessment in the absence of bids, offers, trades or other related market data received for pig iron on a FOB Black Sea basis.

This follows Platts' observation of ongoing disruption in pig iron trade flows and the absence of observable spot market activity in the Black Sea region after an escalation of the Russia-Ukraine conflict earlier this year.

In the absence of relevant FOB Black Sea indications, Platts will exercise judgment and consider the pig iron FOB Black Sea Export price (SB01171) relative to the Platts TSI HMS 1/2 80:20 CFR Turkey scrap benchmark (TS01011) by applying the average Black Sea pig iron to HMS 1/2 80:20 scrap ratio observed (currently 0.90 since January 2025).

Platts welcomes feedback on the suitability of the prevailing pig iron-to-scrap ratio of 0.90 applied for the Pig Iron FOB Black Sea Export assessment.

This impacts the following assessment:

Full details of the assessment specifications for Platts Metallics assessment can be found here.

Platts pig iron assessments are published in SBB Steel Markets Daily, on fixed page STL1114, and on Platts Core.

Please send comments and questions to EMEAMetalsTeam@spglobal.com and pricegroup@spglobal.com

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.