In the Turkish domestic pig iron market, local producer Kardemir has kept its prices unchanged since November . 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.
Last week, Ukrainian pig iron offers to the Turkish market were standing at $440-445/mt CIF, while Russian pig iron offers to Turkey were at $450-460/mt CIF, both for December shipments. However, due to sluggish demand real buyers still have strong bargaining power and the CIS pig iron producers are not willing to increase their supplies to the market.
Approaching to the end of the year 2011, Far Eastern markets are seen to be active in terms of pig iron demand and since some pig iron transactions have been concluded from Russia to Far Eastern markets, Russia's offers to Turkey have shown some increases as compared to previous levels.