In the Italian market, the latest import offers for basic pig iron from Russia and Ukraine are at $415-425/mt CFR.
In the past month, ex-CIS import pig iron prices for Italy have remained mostly stable for two main reasons: during the most recent scrap price increases back in March, the growth of pig iron prices was limited, and, secondly, pig iron supplies are not excessive due to production adjustments. At the same time, producers have failed to pass on any increase in prices, given the lack of demand and the price trend followed by the scrap market in the last two months. Operators consulted by SteelOrbis speak of a very likely downward trend for pig iron offers from the CIS for Italy in the coming period against the background of the soft trend of the scrap market.