In the Turkish domestic pig iron market, local producer Kardemir kept its price levels unchanged in its new price list dated April 19. Accordingly, Kardemir's price of H1 pig iron has remained at $560/mt plus VAT, its price of C1 pig iron is still at $535/mt plus VAT, and its price for C2 pig iron is unchanged at $525/mt plus VAT.
As we approach the end of April, the pig iron price increases have still not been accepted on the buyers' side. Following the conclusion of the Easter holidays, foundries are expected to decide upon new purchases as per the situation of their order books.
Furthermore, in a gathering organized by the Turkish Foundrymen's Association, the main issue discussed was the increase in the volume of pig iron offers addressed to foundries in Turkey, as supplies from Iskenderun-based Isdemir are going to stop as of the end of April. International trading companies which are represented in Turkey as well as some suppliers of European pig iron have started to make offers directly to the foundries in Turkey.
Last week, bids received for sales of 20,000 mt of pig iron were collected in the range of $505-510/mt FOB and 10,000 mt of May production pig iron was sold in Ukraine. Following this sale, pig iron offers from Ukraine and Russia are expected to be revised following the Easter holidays.
In the European foundry sector, France and Germany are considered to be in a better shape as compared to Spain and Italy, while the situation in the sector is expected to become clearer as of May.