Pig iron prices in the Turkish domestic market have shown an upward trend for the last three months in line with increases in finished steel quotations and in scrap transaction prices. Meanwhile, market sources state that an approximate $30/mt price hike in the Chinese iron ore market can also help to make pig iron price increases more acceptable.
While Ukrainian pig iron suppliers are trying to raise their prices, Turkish buyers in their turn have made lower firm bids. Current Ukrainian pig iron offers for Turkey are ranging at $420-425/mt CFR. As of September, pig iron demand is expected to improve, particularly in Europe, where market players are on their summer holidays now, and prices will likely increase further, though it is thought that prices will decline again towards the end of the year.
Ex-Ukraine pig iron prices in June this year as compared with June 2012 prices are as follows:
