In the Turkish domestic pig iron market, early last week market players were looking forward to seeing if local producer Kardemir would update its pig iron prices, along with finished steel prices. However, on September 14, Kardemir announced it was keeping its pig iron prices unchanged in its new sales prices list.
Accordingly, Kardemir's price of H1 pig iron still stands at $595/mt plus VAT, its H2 price is at $585/mt plus VAT, while its price of C1 pig iron has trended sideways at $560/mt plus VAT, and its price for C2 pig iron is still at $550/mt plus VAT.
In the meantime, last week a 5,000 mt pig iron purchase tender was opened by a Turkish mill in the Marmara region. The tender is still open as of today. Another tender for the purchase of 10,000-15,000 mt of pig iron from a mill in the Iskenderun region had been finalized, on September 9, at slightly below $530/mt CFR. No new tender has been heard so far.
The Turkish domestic pig iron market has made a quiet start to the current week. Turkish steel producers are expected to decide on their new pig iron purchases in line with the future trends in the Turkish finished steel market.