Prices have virtually no more room to increase

摘要

In September, CIS pig iron prices kept rising, supported mainly by demand in China in the first half of the month and then by the US market. The quotes gained 7% month-on-month. By the middle of September, Chinese exporters became uninterested in booking new lots amid a decrease in quotes of both steel products and iron ore. Taking into account extremely high pig iron offers, set as a result of the latest trade campaign, mills aim to buy imported material from traders having volumes purchased at lower prices. Meanwhile, CIS suppliers are supported by a steady recovery in the US steel segment, resulting in the return of local consumers, which used to refrain from active restocking.