Following the rises recorded in CIS-based pig iron producers’ export prices last week, the market has waited for buyers to accept these new price levels over the past week.
It is observed that pig iron buyers have yet not accepted the rises in question as they prefer to wait and monitor the market instead. Market sources state that buyers’ pig iron inventory levels have weakened in this period due to their postponed purchases, and so they are expected to restart stock replenishments with new deals. As a result, demand for ex-CIS pig iron is foreseen to revive in the coming period due to the expected restocking by buyers.
Meanwhile, CIS-based suppliers’ pig iron export prices have remained stable week on week at $360-390/mt FOB.