Pig iron prices has in the meantime fallen by USD 15 per tonne from the previous peak of USD 550 per tonne to USD 535 per tonne CFRFO Mediterranean ports with customers not interested and not even willing to give counter bids.
Scrap prices are continuing to fall as Turkish buyers are still holding back and different lots from abroad are now offered at prices lower than USD 450 per tonne from a previous USD 470 per tonne, finding strong resistance.
Clarity is expected to dawn in the coming week.
