Ex-CIS pig iron export offers still higher than Turkish buyers’ price idea

In this week's Turkish domestic pig iron market, local producer Kardemir's price of H1 pig iron still stands at $625/mt plus VAT, its H2 price is at $615/mt plus VAT, while its price of C1 pig iron remains at $590/mt plus VAT, and its price for C2 pig iron is at $580/mt plus VAT.
 
While ex-Russia pig iron offers continue to stand at $530-535/mt FOB for August shipments, it is heard that the price idea of buyers in Turkey's Iskenderun region is at $530-535/mt CFR. SteelOrbis has learned that in a tender in the Iskenderun region last week, the transaction price for 10,000 mt plus of pig iron was close to the price level mentioned just above. In the meantime, since Turkish steel producer Isdemir stopped selling pig iron, Iranian pig iron suppliers have become an alternative supply source for buyers in the Iskenderun region.
 
Following the temporary resolution of problems with the Greek economy, the €/$ exchange rate has increased from last week's 1.40 to 1.44 this week, providing some relief for Europe. Southern European pig iron buyers, who are expected to go on their holidays in August, and particularly Italian buyers for whom the holiday is a bit longer than for other Europeans,  are foreseen to complete their pig iron bookings by the end of this week.
 
Last week, ex-Ukraine pig iron offers were at $520-525/mt FOB. However, it is heard that some Ukrainian producers are offering slightly below this price range in pig iron sales tenders in which they participate.
 
While Turkish mills' long steel export offers still follow a rising trend, it is thought that it will take some time for other international producers to catch up with Turkish mills' prices.