In the Turkish domestic
pig iron market, local producer
Kardemir has kept its price levels unchanged with its latest price list dated May 27. 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.
Some Turkish foundries continue to make purchases from local trading houses, while some other foundries are seeking to balance their cast iron parts productions with local scrap bookings, in the context of high trending
pig iron prices. In the meantime, following the rapid price hike in the Turkish finished steel market (rebar, wire rod) which has also helped push scrap prices upwards, Turkish foundries are now worried about whether these increases will be echoed in
pig iron sales prices.
This week, ex-
Ukraine pig iron offers, which have remained at $545-550/mt, continue to attract Turkish buyers' attention.
SteelOrbis has learned that, with the approach of the summer season, the number of orders from manufacturers of agricultural machinery parts have increased, while delivery periods in the automotive supply industry which were at six months have now regressed to three months or shorter, due to the volatility observed in
pig iron sales prices. On the other hand, following the spread of the political turmoil in Syria, cast iron parts exports to this country from
Turkey have slowed down, while there has been an increase in the number of orders received by Turkish foundries from buyers in
Iraq and
Iran.
It is reported that last week's ex-South
Africa nodular
pig iron offers to
Turkey at $690-700/mt CIF are still valid, while negotiations continue for nodular
pig iron sales from central Europe to
Turkey. The reaction of Turkish meltshops and foundries to current
pig iron sales prices will determine whether or not
pig iron prices move up.