Pig iron market maintains its strength

Improved demand, particularly in Europe and the US, has helped pig iron market to remain strong. Pig iron demand in the local Italian steel market is quite good, and recent price hikes in the US market on the back of strong demand have had a positive impact on pig iron demand in the country. In addition, expectations for increases in iron ore prices in the long term have also encouraged pig iron producers to revise their prices upwards.
 
Ukrainian pig iron export offers currently stand at $390-395/mt FOB, but, if the anticipated increases materialize, deals above the level of $400/mt FOB will likely be concluded. Meanwhile, increased scrap transaction prices in Turkey constitute another factor that puts upward pressure on pig iron quotations.