It's a buyers' market for both basic pig and scrap. However, prices of the two metallics easily could go separate ways, they add. Marketplace factors also can change quickly. The major overseas pig suppliers can and have pulled out of the market or shipped into the U.S. inconsistently. A country such as Japan, China, Turkey, or India may enter the U.S. market suddenly and disappear just as quickly.
Domestic supply seems more assured.
But if the current price erosion continues, U.S. pig-iron producers may not find it worthwhile to continue supplying the marketplace at the level they are this year. Select another article. Return to New Steel home page.