Turkish pig iron market follows sideways trend

The Turkish pig iron market has been following a sideways trend. Meanwhile, Turkish buyers, who prefer to import pig iron mostly from the CIS countries, believe that prices will continue to soften. The latest ex-CIS pig iron deals have been concluded at $400/mt CFR Turkey.
 
In the meantime, international traders' bookings from pig iron mills have been at lower prices, as some large volume pig iron transactions have been concluded at $375-380/mt FOB Ukraine.
 
On the other hand, like the scrap market in the US, the US pig iron market has also remained weak, while pig iron prices have decreased in China due to low demand. With the sideways trend of Turkish scrap booking prices and the stable trend of Chinese iron ore quotations, traders have continued to adopt a wait-and-see stance, as they currently find it difficult to predict the pig iron price trend.