CIS-based pig iron suppliers unwilling to cut export prices

SteelOrbis has been informed that ex-CIS pig iron offers are currently in the range of $265-280/mt FOB, while pig iron offers from the CIS region to Turkey are now at $290-300/mt CFR. On the other hand, market sources state that ex-CIS pig iron offers to the US are also at $290-300/mt CFR, while they are considered to be on the high side. US buyers' firm bids to CIS exporters are reportedly at $280-285/mt CFR. However, CIS-based pig iron suppliers are unwilling to cut their export prices due to increases recorded in the global iron ore and scrap prices.