Over the past week, ex-CIS pig iron offers to the exports markets have remained stable at $380-405/mt FOB, while demand has weakened as compared to previous weeks as buyers have preferred to adopt a wait-and-see stance. In previous weeks, CIS-based pig iron suppliers directed their sales to the US, where demand was at decent levels and increased their price offers for US customers. Although no new pig iron deals have been concluded from the CIS to the US over the past week, the US market is still a priority for CIS-based producers, according to market sources.
Meanwhile, in the given period, no price offers have been heard from CIS-based pig iron suppliers to Turkey, where pig iron demand is still extremely slack. Market sources state that ex-CIS pig iron offers to Italy, where demand is also sluggish, are at $390-430/mt CFR, though recent deals have been concluded to Italy at $390-395/mt CFR following decreases during negotiations.