Pig iron prices in international market still firm

In the past week, pig iron prices have maintained their firmness in the international markets.
 
In the Turkish domestic pig iron market, local producer Kardemir has kept its price levels unchanged since its latest price list dated May 17. Accordingly, Kardemir's price of H1 pig iron has remained at $600/mt plus VAT, its H2 price is still at $590/mt plus VAT, while its price of C1 pig iron is at $575/mt plus VAT, and its price for C2 pig iron is unchanged at $565/mt plus VAT.
 
Ex-Russia pig iron offers stand in the price range of $540-550/mt FOB. However, Turkish buyers are showing more interest in Ukrainian suppliers' offers, which are at $545-550/mt CIF Turkey. In our previous analysis, it was said that Turkey's pig iron imports from the CIS may indicate an increase in the figures for April. Although official import figures have not been released yet, SteelOrbis has learned from market sources that Turkish mills have accelerated their pig iron purchases from the CIS .
 
On the other hand, there has been speculation in the market for a while that some low volume pig iron offers (10,000-20,000 mt) from Iran are being given to Turkey, at slightly below the price levels of Ukrainian offers. It is reported that some Turkish mills are now leaning towards these offers.
 
SteelOrbis has further learned that, in an export tender held last week in Ukraine, the opening bid price at $540/mt FOB regressed to the level of $520-525/mt FOB in the conclusion phase.
 
Brazilian pig iron producers are unwilling to give export offers due to intensive domestic demand, while offers given from Southern Brazil are at $535-545/mt FOB.