Export prices to stay high

摘要

Demand for CIS pig iron stays poor in Europe and Turkey amid lower scrap quotes. The same picture is expected to be seen in the US market in February amid sharp reduction in scrap tags. The maximum difference between prices for pig iron and scrap amounted to $40-45/t in favourable market conditions. This level has already been exceeded and, given our scrap price forecast, pig iron quotes may go down in February and then will be stable till the end of the forecast period due to the lack of major reasons for the price changes.