According to market sources, availability of basic pig iron exports from the CIS region has declined significantly in past weeks because of the recent escalation of the conflict in the Donbass region in Ukraine and the consequent blockade of the country's rail system. As a result, ex-CIS basic pig iron offers to Italy have increased by $35/mt on average to $380-390/mt CFR compared to two weeks ago and by $85/mt compared to mid-February levels.
Meanwhile, sources close to SteelOrbis said that as buyers consider basic pig iron offers from the CIS region to be on the high side, they are inclined to buy increased volumes of high-grade scrap or other qualities of pig iron at lower prices.