In the first half of March,
pig iron export prices from the
CIS region had indicated a sharp rise due to the blockade of railway lines in eastern Ukraine which caused tightness of
pig iron supply. However, as of mid-March ex-
CIS pig iron prices have followed a sideways trend amid the weakness of demand for ex-
CIS pig iron in Italy - one of the most important export markets for
CIS-based
pig iron exporters - and due to the declines seen in global raw material quotations.
As a result, ex-
CIS pig iron prices are currently at $360-380/mt FOB, indicating an increase of $40/mt compared to the price levels recorded at the end of February.