Russian producers’ pig iron offers fail to gain acceptance

In the Turkish domestic pig iron market, local producer Kardemir has kept its prices unchanged in its new price list issued on January 11. Accordingly, Kardemir's price of H1 pig iron still stands at $575/mt plus VAT, its H2 price is at $565/mt plus VAT, while its price of C1 pig iron stands at $540/mt plus VAT, and its price for C2 pig iron is at $530/mt plus VAT. However, market players state that Kardemir may adjust its domestic pig iron prices upwards in the coming days.
 
Ex-CIS pig iron offers are also trending upwards. While Russian producers' pig iron export offers stand at $485-490/mt FOB, European and Turkish buyers consider this price range to be on the high side. In the meantime, it is learned that some Russian traders have sold off material at $450/mt FOB. For ex-Ukraine material, no new export offers have been heard so far and latest pig iron offers from Ukraine to Turkey were at $460-465/mt CFR. Besides, SteelOrbis has learned from market sources that some Turkish producers are planning to conclude their still open pig iron purchase tenders.
 
Finally, it is learned that in an ex-South Africa nodular pig iron transaction to Turkey, the price was at $610/mt CIF, for shipments in late March.