After the ups and downs of recent weeks stability has returned to the Italian pig iron market - this is the view garnered from interviews with those involved in the market.
In the second half of April the Italian pig iron market saw several upward movements, though the market was repeatedly thrown into confusion by a number of lower offers which were later withdrawn. In recent days, however, quotations have returned to higher levels, at around $350-365/mt CIF for material coming from Russia and Ukraine.
After a first quarter distinguished by sustained purchases on the part of the Italian mills, demand in April saw a slowdown (due in particular to the holiday breaks). Inventory levels are fairly good.
As regards the short-term future, those interviewed state that they are expecting to see a fairly stable market, with only slight deviations possible from the current quotation levels.
With regard to hematite pig iron, in recent months there has been a more decisive upward movement in prices due to the lack of material on the market. In the weeks ahead, quotations of hematite pig iron should continue at high levels.