Against the backdrop of the upward movement of scrap prices, CIS-based pig iron producers have increased their export offers during the past week. Accordingly, ex-CIS pig iron offers have risen by $15/mt on the lower end and by $10/mt on the upper end week on week to $360-380/mt FOB.
Having concluded sales at lower prices in previous weeks, CIS-based pig iron producers settled on $360/mt FOB as the lowest price level for their exports last week and are unwilling to accept firm bids lower than this level. Additionally, it is observed that the CIS-based producers are planning to increase their pig iron export offers for March. Although purchases of pig iron from the CIS region have slowed down due to higher offer prices, market sources state that CIS-based pig iron producers are anticipating a new wave of purchases for stock replenishment.