According to market sources, Ukrainian suppliers have started to give offers to the export markets once again, and market players are watching to see if these offers will be converted into transactions. In the current week, ex-Ukraine pig iron offers are in the range of $380-395/mt FOB, while Russian pig iron offers to the export markets are now at $400-410/mt FOB.
Market sources state that, with scrap prices trending downwards and iron ore prices remaining on the low side even though they have increased by $1-2/mt over the past week, Turkish producers may still find the ex-CIS pig iron offers to be on the high side.
In August, some Ukrainian suppliers stopped accepting exports orders due to conflict in the country and Russia became the sole pig iron supplier in the region. However, Turkish producers had considered the ex-Russia pig iron offers to be high.