Iron ore prices in China have remained stable in the last two weeks, while the Turkish import scrap market has remained quiet this week after a period of rapid upward movement. However, ex-Black Sea scrap prices have shown some declines and some increase in prices is expected in the international coal market. Under these circumstances, if steel demand strengthens and steel prices increase in September and October, then demand for pig iron may also rise.
New pig iron purchases in Turkey from Ukraine are expected within last week's price range of $420-425/mt CFR, while CIS pig iron suppliers state that there is currently no room for any price drop.
Turkey's pig iron imports from Ukraine account for 60 percent of the country's total pig iron imports.