Over the past week, ex-CIS pig iron offers have increased slightly by $5/mt to $335-355/mt FOB. However, no deals have been heard at prices higher than $350/mt.
In the given period, CIS-based pig iron suppliers have increased their offers to the US market to $370/mt CFR, though deals have been concluded at $360-365/mt CFR since demand for pig iron in the US is slack.
According to market sources, demand for pig iron in the Italian market is not so lively, though buyers are continuing to conclude deals in order to meet their immediate needs. Buyers, who preferred to adopt a wait-and-see stance towards ex-CIS pig iron offers at $370/mt CFR last week, have increased their firm bids on the upper end by $5/mt to $350-360/mt CFR this week and have concluded deals.
Meanwhile, as their firm bids for ex-CIS pig iron are at $350/CFR, Turkish buyers still consider CIS-based suppliers’ current prices to be on the high side. As a result, no ex-CIS pig iron deals have been heard in Turkey.