Some Turkish steel mills had concluded pig iron deals from the CIS at the level of $480/mt CFR in early April, as SteelOrbis previously reported. While Turkish buyers' demand for pig iron has remained weak, ex-CIS pig iron offers have not changed substantially since then. For now, Ukrainian suppliers' pig iron offers to Turkey are standing at $475-485/mt CFR for shipments in June.
On the other hand, global iron ore prices have indicated a slight decrease in the last two weeks. Meanwhile, Turkish buyers' transaction prices for scrap have almost remained stable. During the past month, import pig iron quotations in Turkey have shown no significant changes; however, as of the second and third week of May ex-CIS pig iron transactions in Turkey are anticipated to be concluded at $470-475/mt CFR, which is $5-10/mt below the latest transaction price range.