Factors like the ongoing shortage of supply from CIS
pig iron mills and improved demand in the Turkish domestic market have created expectations for
pig iron price increases in
Turkey.
Although
scrap transaction prices in
Turkey had declined in the first half of February, import
pig iron prices had followed a stable trend over the same period.
Ukrainian
pig iron offers can be found at $390-395/mt FOB Black Sea, while Russian export offers are ranging at $415-420/mt FOB Black Sea. Meanwhile, the latest
pig iron deal in
Turkey from
Ukraine has been transacted at $410-415/mt CFR, while an ex-
Russia deal has been concluded at $435-440/mt CFR in
Turkey.
Although
iron ore prices have been on the soft side in the past two weeks in
China, the rising trend for both import
scrap prices and domestic rebar prices in
Turkey have strengthened the possibility of a price increase for
pig iron in the Turkish market.