Increases in Turkish mills'
scrap transaction prices in the last couple of weeks and improved
iron ore prices in
China have encouraged
pig iron suppliers to keep their offers at high levels.
Pig iron suppliers in the CIS region are expected to return to the market after the New Year holiday with new offers, while these offers will likely rank at higher levels as compared to December prices. The New Year holiday in
Ukraine will last until January 2, while it ends in
Russia on January 8. In the meantime, market activities will likely gain momentum as of the second week of January and Ukrainian mills are anticipated to offer
pig iron to
Turkey at the price level of $405-415/mt CFR, while Russian offers are thought likely to be around at $415-425/mt CFR.
On the other hand, increased freight costs and more difficult loading conditions amid extremely cold weather and frozen seas, seem to have negatively influenced shipments to
Turkey.