Demand in the export markets for
pig iron from the
CIS region is currently at low levels, while buyers prefer to wait and see.
Market sources state that buyers in the global steel markets are finding it difficult to predict the future trend of
pig iron prices amid the declines in iron ore and steel quotations recorded in China after the Chinese New Year holiday, combined with the expectations of an increase in hot rolled coil (HRC) prices in Europe with HRC supply in the region declining following Italian steelmaker Ilva's decision to stop its HRC production.
Ex-
CIS pig iron offers to the export markets have moved down by $10/mt over the past two weeks to $290-310/mt FOB against the backdrop of the declines recorded in global prices of scrap, coal and iron ore.