CIS producers increase pig iron export offers, while Turkish buyers wait

In the Turkish domestic pig iron market, local producer Kardemir has kept its prices unchanged since November 24. Accordingly, Kardemir's price of H1 pig iron still stands at $540/mt plus VAT, its H2 price is at $530/mt plus VAT, while its price of C1 pig iron stands at $505/mt plus VAT, and its price for C2 pig iron is at $495/mt plus VAT.
 
Last week, Ukrainian pig iron offers to the Turkish market were standing at $440-445/mt CIF, while Russian pig iron offers to Turkey were at $450-455/mt CIF, both for December shipments. This week, Ukrainian and Russian offers have reached $450-455/mt CIF and $460-465/mt CIF respectively. Although the CIS producers have increased their pig iron offers to Turkey as compared to the previous week, due to sluggish demand real buyers still have strong bargaining power
 
In the middle of this month, nodular pig iron cargoes of previously concluded transactions (at $565-575/mt CIF) are expected to arrive in Turkey. For January deliveries, offer price levels have not changed yet.