Prices are still high while demand remains at low levels - this is the current situation in Italy's domestic pig iron market.
After quotations had reached a peak of $1,010/mt (at which level few purchases were registered), the price of pig iron in the Italian market has declined in recent days dropping to the range of $950-980/mt. Nonetheless, little activity is seen in the market on the part of foundaries and steel producers, since the price difference between pig iron and scrap is still very high and this causes customers to reduces purchases and to prefer, when possible, high grade scrap.
As regards offers, the Russian and Ukrainian producers are keeping their quotations at high levels and for the time being do not appear to have any intention to decrease their prices. Not many surprises are being predicted for September either.