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05 May

Italian pig iron market deadlock persists

Italian pig iron demand has flatlined, with no transactions reported over the past two weeks. May values will inevitably fall as offers from Russian companies allowed to sell in the EU are declining by some $15/tonne on average compared to mid-April, as expected. Buyers are in wait-and-see mode, convinced that contracts will decline in line with falling scrap prices in Europe and Turkey, Kallanish hears. Russian sellers are offering pig iron to distributors at $46…
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