Market sources report that demand in the CIS pig iron market has remained slack against the backdrop of political tensions in Ukraine.
In February, pig iron prices had edged down amid the long-standing downtrend in iron ore prices and the sharp decreases recorded in scrap prices as of late January. During February, many deals were concluded in certain target destinations, such as the US, Italy and Turkey, while there has been a slow start to March due to lack of demand. Ex-Ukraine pig iron offers are currently at $375-385/mt FOB, while market players believe that pig iron prices will mostly remain stable in March and that prices may trend upward in April due to a possible improvement in pig iron demand.
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