CIS PIG IRON: Market improves on scrap gains, suppliers’ wait-and-see approach

The export market for pig iron from the Commonwealth of Independent States improved during the week ended Thursday February 20 due to continued scrap price increases. Additionally, suppliers have opted to hold back sales, contributing to the bullish mood in the market.

“Suppliers apparently put things on hold and are not offering material at this point; they want to wait for better pricing,” one buyer source said.

“There were expectations that after several sales [by one supplier to the United States] last week, all other suppliers would be in hurry to sell as well. But then scrap went up further and they preferred to leave the market and wait for higher...

Published

Marina Shulga

February 21, 2020

16:16 GMT

Dnepr