Demand for ex-CIS pig iron in the international markets has not revived over the past week, while ex-CIS pig iron prices have remained stable in the given week at $365-370/mt FOB.
CIS-based suppliers’ pig iron offers to the US are now at $380-390/mt CFR. The weakness of demand for ex-CIS pig iron in the US has been causing ex-CIS pig iron offers to move down for some time now. But, since domestic scrap prices in the US are expected to increase for the October buy-cycle, the downtrend of CIS-origin pig iron offers is foreseen to come to a halt. Meanwhile, domestic finished steel demand in Turkey has failed to improve, and so Turkish buyers are still postponing their pig iron purchases due to slow domestic finished steel sales.