Ex-CIS pig iron prices switch to downward trend

Tuesday, 03 October 2017 16:29:54 (GMT+3)   |   Istanbul
       

During the past month, ex-CIS pig iron prices have moved on a fluctuating trend, first trending sideways and then switching to a downward trend later on. Following their previous rising trend, ex-CIS pig iron prices had started to move sideways since buyers slowed down their bookings considering price levels to be on the high side. Subsequently, prices switched to a downward trend due to the declines seen in raw material prices in the global market. As a result, ex-CIS pig iron offers have decreased by $25/mt on average over the past two weeks to $350-370/mt FOB. Market sources state that pig iron export prices from the CIS region may continue their soft trend in the coming period in line with the raw material prices, though sharp declines are not foreseen.


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