Ex-
Ukraine pig iron offers have declined by $5/mt over the past two weeks to $370-380/mt FOB. Meanwhile, Ukrainian
pig iron offers to
Turkey are standing in the range of $395-400/mt CIF, softening by $5/mt over the same period. Due to the expected decreases in import
scrap prices, Turkish steelmakers have found the current
pig iron prices to be on the high side and are seeking to obtain prices around $390/mt CIF for new purchases. Depending on the trend of import
scrap prices in
Turkey, it will be clearer if Turkish
pig iron buyers can get what they want in terms of prices.
In the meantime,
pig iron offers from
Ukraine to
Italy, where demand has started to soften, have decreased by the same amount in the same period and are now ranging at $395-400/mt CIF for August shipment. Declines in
pig iron demand and prices in the Italian market are due to the lower steel production volumes in August when the Italian market enters its summer holiday period.