The weekly Davis Index for CIS basic pig iron was unchanged at $538/mt fob Black Sea on Friday amid the holiday season in the region.
Business activity is minimal in the CIS pig iron market as most exporters are shut for the New Year and Christmas holidays. Negotiations and trading are expected to resume next week.
Market participants believe that CIS pig iron suppliers will raise their offers next week due to the limited availability of material and an uptrend in the global ferrous scrap market.
The weekly Davis Index for CIS pig iron in Italy was also flat at $560/mt cfr on Friday amid missing offers and inactive buyers.