Protests, the ousting of a president, the annexation of a peninsula, and violent clashes between pro-Russian rebels and Ukrainian army forces have heightened the former Soviet country’s credit risk, destroyed infrastructure and caused uncertainty in the market this year.
Production stoppages and transport disruptions started restricting flows of pig iron from the country at the end of July, with supplies slowly returning to the market in October and November.
But for all the changes that pig iron suppliers and traders in the region have felt, the unrest in Ukraine has had little effect on consumers in Europe – with Russian and Brazilian pig iron filling the supply gap amid generally low demand for the material this year.
Ukraine tensions rise
Violent protests in Ukraine’s capital, Kiev, the ousting of pro-Russian president Viktor Yanukovych in February and Russia’s annexation of the Ukrainian peninsula of Crimea in March destabilised the region’s politics....