As SteelOrbis reported earlier, import
pig iron offers to the Turkish domestic market have been expected to slide down further.
Ukraine, as the major
pig iron supplier of
Turkey, is offering
pig iron to the export market at $390-395/mt FOB, while its
pig iron offers to the local Turkish market are standing at $410/mt CFR, indicating a drop by $10/mt as compared to last week. In addition, freight costs between
Ukraine and
Turkey are around $15-17/mt.
Meanwhile, some market players believe that declines in
pig iron prices will continue amid falls in global raw material prices and weak demand, and that
pig iron offers to
Turkey will see the level of $400/mt CFR soon. However, other market insiders state that
pig iron prices have already seen the bottom and should not soften further.