Import pig iron prices register increases in Turkey

According to market sources, current pig iron offers from Ukraine to Turkish buyers are ranging at $410-420/mt CFR. Turkish steel mills and traders are planning to make pig iron purchases in November before the end of the year, but they find these offers to be on the high side. Although buyers' expectations for price decreases still continue, Ukrainian pig iron suppliers will likely not reduce their offers below this level.
 
Meanwhile, since Russian mills' pig iron offers to Turkey are standing approximately $20/mt higher than the Ukrainian offers, Turkish buyers prefer to conduct business with Ukrainian suppliers.
 
Market sources indicate that, if the scrap and iron ore markets maintain their stable price trends, it seems difficult for pig iron prices to drop under the current levels.