This week, foreign
pig iron suppliers have started to give offers to the Turkish market, with prices now standing above previous transaction price levels.
Currently,
pig iron offers to
Turkey from
Ukraine,
Turkey's major import source for
pig iron, are standing at $420-425/mt CFR. However, buyers are taking their time before concluding any booking at these higher price levels, anticipating discounts.
As SteelOrbis previously reported,
Turkey's
pig iron imports in June indicated a decrease of 35.9 percent compared to May, declining to 89,808 mt, with major sources being
Ukraine and Russia.
Following increases seen in Turkish mills' import scrap prices in August,
pig iron prices have also moved upwards. However, given the weakness of the market and low trending iron ore prices, the Turkish mills are not expected to accept the increased
pig iron offers and transactions are foreseen to take place at $410-415/mt CFR from
Ukraine to
Turkey. In late July, ex-
Ukraine pig iron transactions to
Turkey were at $390-400/mt CFR.