Ex-CIS pig iron offers remain flat as year ends

In the Turkish domestic pig iron market, local producer Kardemir has kept its prices unchanged since December 15. Accordingly, Kardemir's price of H1 pig iron still stands at $575/mt plus VAT, its H2 price is at $565/mt plus VAT, while its price of C1 pig iron stands at $540/mt plus VAT, and its price for C2 pig iron is at $530/mt plus VAT.
 
Pig iron demand in international markets is currently quiet due to the Christmas and New Year holidays, which have already begun.  Considering also regional holidays in the CIS, pig iron producer in this region is expected to return to the market by January 9. It is expected that CIS pig iron producers may adjust their pig iron export offers upwards after the New Year holiday.
 
Currently, Ukrainian pig iron offers to the Turkish market are still standing at $460-465/mt CFR, while Russian pig iron offers to Turkey are at $470-475/mt CFR, both for late January shipments. Both offers have stayed at last week's price levels.
 
Most pig iron buyers in international market are currently delaying their purchases to the period after the New Year holiday.