Italian pig iron prices are on the rise due to a lack of alternatives to Russian supply. The European Union's annual quota for Russian-origin pig iron has already been exhausted, leading Italian buyers to explore other sources, such as Ukraine and Brazil. Ukrainian producers are offering pig iron at competitive prices, but some are prioritizing sales to the U.S. market.
Meanwhile, Brazilian pig iron is being negotiated at higher prices. The Italian foundries sector is facing challenges, including rising costs and declining production, which are exacerbated by energy price increases and reduced market demand. Industry leaders are calling for European-level interventions to address these issues and support the manufacturing sector.
