Improved demand, particularly in Europe and the
US, has helped
pig iron market to remain strong.
Pig iron demand in the local Italian steel market is quite good, and recent price hikes in the
US market on the back of strong demand have had a positive impact on
pig iron demand in the country. In addition, expectations for increases in
iron ore prices in the long term have also encouraged
pig iron producers to revise their prices upwards.
Ukrainian
pig iron export offers currently stand at $390-395/mt FOB, but, if the anticipated increases materialize, deals above the level of $400/mt FOB will likely be concluded. Meanwhile, increased
scrap transaction prices in
Turkey constitute another factor that puts upward pressure on
pig iron quotations.