In the Turkish pig iron market, ever since Kardemir issued its latest price list on January 14, pig iron prices have remained unchanged. Thus, in the Turkish domestic market, Kardemir's H1 grade pig iron price is still standing at $620-635/mt + VAT, while its H2 grade pig iron price has settled at $610-620/mt, its C1 grade pig iron price is at $595-605/mt + VAT, while its C2 grade pig iron price is at $585-595/mt.
According to Orbis Steel Index, rebar prices in the local Turkish market have dropped by 3.47 percent as compared to the previous week. The softening in finished steel sales prices has been monitored closely by Turkish pig iron suppliers.
These days, the main problem in world pig iron production is the contraction seen in coking coal supplies. SteelOrbis has learned that last week ex-Brazil pig iron offers were standing at $510-520/mt FOB for deliveries in March. This week, it is anticipated that Brazil's pig iron export offers will be updated in line with trends in the steel industry. The problem here is posed by the loading problems seen at Brazilian ports. Many international trading companies have been facing difficulties delivering their previously concluded pig iron orders. Meanwhile, Brazilian mills insist on reflecting increased production costs due to floods in their pig iron export offers. On the other hand, Ukrainian pig iron suppliers are pushing international buyers to accept their pig iron export offers at $530-540/mt FOB for March shipments; however, buyers are not inclined to accept these offer levels. Following the start of sales of pig iron inventories by international trading companies, the abovementioned price range seems unlikely to find acceptance from Turkish buyers.