In the Turkish domestic pig iron market, local producer Kardemir has kept its prices unchanged since November 16. Accordingly, Kardemir's price of H1 pig iron still stands at $540/mt plus VAT, its H2 price is at $530/mt plus VAT, while its price of C1 pig iron stands at $505/mt plus VAT, and its price for C2 pig iron is at $495/mt plus VAT.
Russian and Ukrainian pig iron producers are not planning to increase their production before the end of this year, due to the demand contraction in the international market.
Ukrainian pig iron offers to Turkey still stand in the price range of $410-415/mt FOB. However, real buyers still have strong bargaining power.
On the other hand, Italian buyers, who were actively purchasing ex-CIS material in early November, now seem to have stepped back from the market.
On the other hand, ex-Brazil pig iron offers stand at $420-430/mt FOB, for December shipments. Slightly lower offers are reported to be available in the market for real buyers. Nevertheless, pig iron demand in the US has remained quiet.
Approaching the end of 2011, the international pig ion market has maintained its silence in terms of demand. At the same time, it should not be forgotten that on top of the ex-CIS offers extra transportation costs may also need to be added, as loading becomes more and more difficult due to increasingly severe winter conditions.