Kardemir reduces pig iron prices, while CIS mills keep offers unchanged

In the Turkish domestic pig iron market,  local producer Kardemir reduced its prices by $30/mt last week. Accordingly, Kardemir's price of H1 pig iron now stands at $545/mt plus VAT, its H2 price is at $535/mt plus VAT, while its price of C1 pig iron stands at $510/mt plus VAT, and its price for C2 pig iron is at $500/mt plus VAT.
 
In the meantime, CIS producers are not planning to reduce their pig iron export offers for the time being, with Ukrainian and Russian producers' offers standing at $480-490/mt FOB. However, Russian and Ukrainian producers have not responded positively to demands for discounts on these offers, which are found to be on the high side by Turkish mills.
 
Market players state that they expect import pig iron offers to Turkey to reflect the reduced price of Kardemir. However, no softening in import pig iron offers has been seen yet.