Contacts grew bearish about pig iron prices this week as falling scrap prices in the US and Turkey seemed to outweigh the run up in iron ore prices and the anticipation of reduced Russian pig iron production. After previous sales at $370-$375/mt CIF New Orleans, buyers and sellers believed that the next round of deals would be below $370/mt and price discussions this week ranged from $350/mt to $365/mt CIF.
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