Turkish pig iron buyers wait for new price levels

In the Turkish domestic pig iron market, local producer Kardemir has kept its price levels unchanged since it increased its prices with its announcement on May 31. Accordingly, Kardemir's price of H1 pig iron has remained at $625/mt plus VAT, its H2 price is still at $615/mt plus VAT, while its price of C1 pig iron is at $590/mt plus VAT, and its price for C2 pig iron is at $580/mt plus VAT.
 
SteelOrbis has learned that an ex-Germany hematite pig iron booking of 6,000 mt has been concluded in Turkey at $600/mt CFR for delivery in July. Following Kardemir's most recent hike, interest in this offer level has increased and negotiations for additional tonnages are continuing.
 
While Turkish foundries are waiting for the new offer levels of CIS producers for June, a new basic pig iron export tender planned for this week in Ukraine at $520/mt FOB for 20,000 mt can be considered as a reference point for the formation of buyers' price idea. Previous tenders, as reported by SteelOrbis, were concluded at price levels slightly below the opening price.
 
As for ex-CIS pig iron offers, Turkish buyers are still showing greater interest in the more reasonable offers from Ukrainian suppliers, rather than in Russian offers. Nevertheless, as regards ex-Ukraine pig iron offers at $545-550/mt CIF Turkey, Turkish buyers are adopting a cautious approach.
 
Regarding sales of cast iron parts, increased activity continues to be seen in the agricultural machinery parts sector, in line with the onset of the summer season.