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CIS producers cut output as pig iron costs exceed market prices

July 26, 2010 - 00:00 GMT

On holiday - ‘The market is quiet, there are no new bookings’

CIS pig iron producers have begun reducing output as their costs exceed market prices, market participants told MB. Demand for pig iron remains at very low levels in Europe and the USA, they said. Although one Russian producer offered new production at $450 per tonne fob Black Sea, most export quotes stayed steady at $410-430 on the same terms. Another Ukrainian mill offered outside this range at...

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