Will import scrap trend in Turkey shape the direction of pig iron offers?

Ex-Ukraine pig iron offers have declined by $5/mt over the past two weeks to $370-380/mt FOB. Meanwhile, Ukrainian pig iron offers to Turkey are standing in the range of $395-400/mt CIF, softening by $5/mt over the same period. Due to the expected decreases in import scrap prices, Turkish steelmakers have found the current pig iron prices to be on the high side and are seeking to obtain prices around $390/mt CIF for new purchases. Depending on the trend of import scrap prices in Turkey, it will be clearer if Turkish pig iron buyers can get what they want in terms of prices.
 
In the meantime, pig iron offers from Ukraine to Italy, where demand has started to soften, have decreased by the same amount in the same period and are now ranging at $395-400/mt CIF for August shipment. Declines in pig iron demand and prices in the Italian market are due to the lower steel production volumes in August when the Italian market enters its summer holiday period.