As SteelOrbis reported earlier, import pig iron offers to the Turkish domestic market have been expected to slide down further. Ukraine, as the major pig iron supplier of Turkey, is offering pig iron to the export market at $390-395/mt FOB, while its pig iron offers to the local Turkish market are standing at $410/mt CFR, indicating a drop by $10/mt as compared to last week. In addition, freight costs between Ukraine and Turkey are around $15-17/mt.
Meanwhile, some market players believe that declines in pig iron prices will continue amid falls in global raw material prices and weak demand, and that pig iron offers to Turkey will see the level of $400/mt CFR soon. However, other market insiders state that pig iron prices have already seen the bottom and should not soften further.