Over the past week, ex-CIS pig iron offers to Italy have moved upwards, supported by prices of scrap, iron ore and coking coal. In our previous report on November 4, ex-CIS pig iron offers for the Italian market were at $295-300/mt CIF, while prices are currently at $300-320/mt CIF and some deals have been concluded at over $300/mt CIF. Market sources state that it is only a matter of time before deals are observed at the higher end of this price range. According to market sources, demand for pig iron is still weak in the local Italian market.