In the Turkish domestic
pig iron market, local producer
Kardemir has kept its price levels unchanged since its latest price list dated May 4. Accordingly,
Kardemir's price of H1
pig iron has remained at $580/mt plus VAT, its H2 price is still at $570/mt plus VAT, while its price of C1
pig iron is at $555/mt plus VAT, and its price for C2
pig iron is unchanged at $545/mt plus VAT.
On the other hand, after Turkish integrated steelmaker Isdemir, a subsidiary of
Erdemir, stopped its commercial
pig iron sales at the end of April, ex-
CIS pig iron offers have gained more importance in the Turkish market. Currently, mainstream ex-
Russia pig iron offers stand at $540-550/mt FOB, while offers from
Ukraine are at $515-525/mt FOB, both for June shipments. Although there are slightly higher offers, buyers do not consider these higher offers to be reasonable.
According to the statistics released by the Turkish Statistical Institute (TUIK),
Turkey's
pig iron imports in March this year climbed by 382 percent year on year to 58,709 mt, while its imports in the first quarter of this year totaled 262,195 mt, up by 386 percent as compared to the corresponding period of the previous year. In March,
Ukraine's
pig iron exports to
Turkey came to 36,984 mt, while Russian exports of
pig iron to
Turkey were at 17,836 mt. Considering that domestic
pig iron supply has shrunk with Isdemir halting its commercial sales, the
pig iron flow from the
CIS to
Turkey may increase in the third quarter of this year.
According to the information provided by the Turkish Foundrymen's Association, in April this year domestic nodular
pig iron average prices in
Turkey decreased by TRY 12/mt to TRY 996/mt ($627/mt), while hematite
pig iron prices rose slightly by TRY 6/mt to TRY 972/mt ($612/mt).
As mentioned in our previous report, ex-
South Africa pig iron offers to
Turkey had increased to $690-700/mt CIF for shipments in June, with a rise of $40/mt, and Turkish buyers were approaching these offers with caution. However, it is reported that this week this price range has started to find acceptance among some foundries.