In previous weeks, ex-CIS pig iron offers to Turkey had declined below $400/mt CFR, as reported by SteelOrbis. The latest Ukrainian pig iron transactions to Turkey have been concluded at the price range of $390-395/mt CFR. Ukrainian pig iron offers to Turkey were at $480/mt CFR in April and have been on a steady downward trend since then.
While scrap prices are still trending at high levels, iron ore prices have lately seen significant drops. Although pig iron suppliers are expected to try to increase their prices, any price rises are not likely to gain acceptance in the market under current conditions.