The Turkish domestic pig iron market has made a quiet start to the current week. Turkish mill Kardemir has kept its local pig iron selling prices unchanged as compared to October in its new list published last week. Accordingly, the producer's local sales price of H1 is standing at $485/mt + VAT, while its H2 price is standing at $475/mt + VAT. Meanwhile, Kardemir's local sales price of C1 is standing at $460/mt + VAT, while its C2 price is standing at $450/mt + VAT.
Due to the approaching Feast of Sacrifice holiday, buyers in the local Turkish pig iron market are cautious as regards new purchases. The ANNOFER 2010 - 9th International Non-Ferrous Metals Technology, Machinery and Products Trade Fair, which will be held on November 11-14 in Istanbul, Turkey, is expected to gather together players from the international pig iron market.
As regards ex-CIS pig iron offers, Russian pig iron export offers stand in the price range of $440-450/mt FOB. It is also heard that in the Polish domestic market attractive pig iron import offers have been given from Germany. Due to the onset of the winter season, pig iron prices have started to move upward. Among the reasons for this upward trend are rising freight rates caused by difficult transportation on frozen rivers in most CIS countries.
Although it is reported that some pig iron suppliers are already working on collecting orders for December, in general there is not any shortage of supply.