Pig iron prices slipped to $412-418 per lt, f.o.b. barge New Orleans, compared to $422-425. Most US consumers were said to be covered and awaiting October direction. Overall, spot demand seems to be somewhat flat, yet holding through September, while traders said they were able to sell near barge-load quantities at $410-418 per mt to US foundries. “There are some discrepancies in production rates right now,” said a source. “Some are working at 100 percent capacity, while others seem to be working more hand-to-mouth as the fourth quarter is approaching.” In contrast, Russian pig iron producers were reportedly unwilling to export material to the US as both demand and prices remained stronger in Europe. Presently European pig iron is at $435-440 per mt f.o.b. Baltic and Black Sea, a source reported. “We are considering holding back on November vessel shipments to the US,” said a seller, “Demand in Europe is just as good, but margins are much stronger.” Business was indicated at $440 per mt f.o.b. Baltic sea and $430 f.o.b. Black sea for a few multi-truckload volume sales as several sources reported an uptick in demand from foundries. The bullish sentiment could subside; however, as some now feel that the market is heading sideways-to-down into the fourth quarter. Traders have continuously revised their expectations for US scrap prices over the past few months. What was once quite positive has quickly weakened as many are now anticipating some cut-backs in overall intake volumes and limiting over-buying ahead of October “The market seems to be in somewhat of a lull,” said a seller. “I have seen a cutback on overall intake volumes as demand and prices could slump.” The cautious undertone in the marketplace is likely to remain as many await a clearer direction as the October market approaches.