The drop in ex-CIS pig iron prices has been smaller than the decrease margins recorded in scrap transaction prices in Turkey and iron ore quotations in China, even though weak demand in the global steel and raw material markets and lower steel prices had led to expectations of stronger decreases in CIS producers' pig iron prices. Relatively strong demand, particularly in Europe, increased costs and production cuts due to low profit margins meant that the CIS mills did not decrease their pig iron quotations as much as expected.
However, while ex-Ukraine pig iron offers had remained at $380-390/mt FOB for a long time, they have now slid down to the level of $370/mt FOB. Although these offers have been found on the high side by Turkish buyers, pig iron demand in the Turkish domestic market may register improvement as the downtrend in scrap prices appears to have come to a halt.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.