According to market sources, current
pig iron offers from
Ukraine to Turkish buyers are ranging at $410-420/mt CFR. Turkish steel mills and traders are planning to make
pig iron purchases in November before the end of the year, but they find these offers to be on the high side. Although buyers' expectations for price decreases still continue, Ukrainian
pig iron suppliers will likely not reduce their offers below this level.
Meanwhile, since Russian mills'
pig iron offers to
Turkey are standing approximately $20/mt higher than the Ukrainian offers, Turkish buyers prefer to conduct business with Ukrainian suppliers.
Market sources indicate that, if the
scrap and
iron ore markets maintain their stable price trends, it seems difficult for
pig iron prices to drop under the current levels.