Over the past week, ex-CIS pig iron offers have moved sideways, remaining stable at $335-365/mt FOB. Following the increase in prices in the previous week, some buyers have started to make bookings, though most of them have not yet accepted the new price levels and are still exerting pressure on prices, according to market sources.
In the given period, CIS-based pig iron suppliers maintained their price offers to the US market at $370-380/mt CFR, while deals have been concluded at $370-375/mt CFR. Despite these deals, some buyers still consider the current prices to be on the high side and are cautious about making purchases.
According to market sources, ex-CIS pig iron offers to Italy are still at $370-380/mt CFR, though buyers considering prices to be on the high side and are unwilling to accelerate their pig iron bookings due to the uncertainty surrounding their finished steel sales. In the given period, Italian buyers have concluded ex-CIS pig iron deals at $370/mt CFR.
As for the Turkish market, demand for ex-CIS pig iron in Turkey has recovered slightly and a Turkish buyer has concluded a new deal at $370/mt CFR.