Cargill Inc. has decided to transition out of the pig iron market over the next several months.

"While we no longer will operate in this niche market, the steel industry remains an important business for Cargill," the Minneapolis-based company said. "Going forward, we will focus our growth efforts around the core products of steel, scrap and iron ore."

During the transition, Cargill will focus on fulfilling its contractural obligations to its customers and identifying potential partners to take on its role in the market, the company said. "We are fully committed to ensuring this is a smooth transition for our current partners in the pig iron business."