Latest situation in CIS pig iron market

SteelOrbis has been informed that pig iron offers from the CIS region to the export markets are in the range of $260-265/mt FOB this week, while ex-CIS pig iron offers to Turkey are currently at $280-285/mt CFR. Turkish buyers of pig iron are reportedly reluctant to conclude new transactions amid declining iron ore prices, while import scrap prices in Turkey have remained firm. Moreover, market sources state that Turkish producers are currently focusing on purchases of scrap instead of pig iron.