A number of factors came together in the second half of 2019 to create a situation of high volatility in the market for pig iron exports from the Commonwealth of Independent States (CIS), which covers almost two-thirds of global exports.
On one hand, weaker prices for finished steel products and scrap put pressure on the pig iron market, while on the other hand suppliers redirected pig iron away from the market for their own use, and a new large consumer, China, joined the market."The main factor which will affect the market this year is the redirection of...