Over the week, Ukrainian cast iron has fallen in price by 15 percent: customers "insist on continuing the banquet"

During the week, Ukrainian export quotations of pig iron decreased by an average of 15 percent and reached the range of 155-160 US dollars per ton on FOB terms in the ports of Ukraine. This was reported on Monday at the state enterprise Derzhzovnishinfom.

The November sales of the leading suppliers of pig iron in the market of the European Union countries opened with a new decline in quotations against the backdrop of stagnation in demand in key consumption markets. At the same time, European consumers continue to insist on additional discounts and call the price of USD 150 per tonne FOB as an acceptable level. Many market operators fear that prices will continue to decline in the near future, especially as the renewed downward price trend in the iron ore segment contributes to this.

“In the first half of November, the global pig iron market showed a decline in contract prices, however, an improvement in the conjuncture was observed in adjacent raw material markets. This circumstance will have a positive effect on prices in the near future. At the same time, large consumers are not in a hurry to buy pig iron, referring to high stocks and difficulties with the sale of finished metal products, ”said Vadim Odarenko, an expert with Derzhzovnishinfom.