Both buyers and producers were in wait-and-see mode in the export market for CIS-origin pig iron during the week ended Thursday January 25, due to uncertainty about further price changes.
"After [the price of] scrap dropped by $20 per tonne, big buyers have been asking if a lower price for pig iron is on the horizon and have adopted a wait-and-see attitude," a trader told Metal Bulletin.Smaller buyers continue to book material from stocks in ports according to their immediate needs, he added.Pig iron exporters, however, have kept their offer prices...