Recent upticks seen in Turkey's import scrap prices have supported CIS pig iron producers as they seek to hold their prices firm. Scrap prices in Turkish mills' latest bookings heard today indicate an increase of $20/mt as compared to scrap transactions prices in early June. In the meantime, ex-Ukraine pig iron offers, which were at $390-395/mt CFR Turkey in early June have reached $400-405/mt CFR in the first week of July, after an increase of about $10/mt. Although Turkish pig iron buyers state that these price levels are on the high side, CIS pig iron suppliers will likely hold their prices at current levels.
