Due to the ongoing conflict in
Ukraine, some domestic steelmakers have stopped accepting export orders for the time being. Naturally this situation has impacted
pig iron supplies too, with some Ukrainian mills having withdrawn their
pig iron tenders. Thus, no
pig iron export offers are heard from
Ukraine to
Turkey at the moment. Meanwhile, Russian
pig iron suppliers have revised their offers slightly upwards due to the problems Ukrainian suppliers face. In addition, the ongoing rising trend in
scrap prices has also provided support for Russian suppliers'
pig iron quotations.
This week's
pig iron offers from
Russia to
Turkey stand at $425-440/mt CFR. Market sources state that these levels have been found to be on the high side by Turkish buyers and will face difficulties in gaining acceptance by them. Meanwhile, it is heard that some
pig iron sales have been concluded over the past two weeks in the range of $420-425/mt CFR from
Russia to
Italy. On the other hand, Russian
pig iron offers to the
US,
Russia's biggest export destination for
pig iron, are varying at $415-425/mt CIF. Market players report that
pig iron demand in the
US is decent.