Demand for
pig iron exports from the
CIS region is slack this week due to the approach of the New Year, while ex-
CIS pig iron offers to the export markets have remained stable week on week at $300-320/mt FOB. Market players hold diverse views on whether the sharp declines in coking coal prices will be reflected in all raw material prices in the coming period. Some market players think that the production cuts at Chinese mills are providing supporting for global steel and iron ore prices, and consider the decreases in coking coal prices as downward revisions which will not be reflected in other raw material prices. Meanwhile, other market players state that current levels of iron ore pries are not sustainable due to decreasing demand and think that the downward trend of coking coal prices will be reflected in all raw material prices, especially in iron ore offers, and will also be reflected in finished steel prices. As a result of these two opposing outlooks,
pig iron buyers continue their bookings but at the same are adopting a cautious stance.