Demand still quiet for ex-CIS pig iron

Tuesday, 24 April 2018 15:48:12 (GMT+3)   |   Istanbul
       

During the past week, international demand for ex-CIS pig iron has not changed much as most European markets have remained quiet in terms of purchases. On the other hand, demand for ex-CIS pig iron is better in Latin America and the US. Meanwhile, ex-CIS pig iron prices have been revised to narrower range, increasing by $10/mt on the lower end and declining by $5/mt on the upper end week on week to $390-400/mt FOB.

It is observed that, following the ex-CIS pig iron sale to the US concluded at $425/mt CFR two weeks ago, no deal has been made to the same destination at higher price levels, and for now US buyers have completed their orders for May deliveries. Market sources state that US buyers have not yet started to place new orders. In Turkey and Italy, where pig iron demand is currently weak, pig iron inventories are reportedly at very low levels, and so buyers in these countries are expected to be forced to restock in the short term.


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