Russian and Ukrainian Pig Iron manufacturers cut offers further 

In the Turkish
domestic Pig Iron market, local producer Kardemir reduced its basic Pig Iron
price by $15/MT. Its H1 Pig Iron price is at $540/MT plus VAT while its price
for C1 Pig Iron stands at $515/MT plus VAT and its price for C2 Pig Iron is at
$505/MT plus VAT.

Meanwhile,
Russian and Ukrainian Pig Iron export offers are still on a downtrend, as the decline
in global raw material prices has been also felt in Pig Iron prices. Ex- CIS
Pig Iron offers to Turkey are currently standing at $455-465/MT CFR. 

Ukrainian
Pig Iron suppliers' export offers are standing at the price range of
$440-445/MT FOB, compared to $455-465/MT FOB two weeks ago. While Ukrainian Pig
Iron offers to Turkey are at $455-$460/MT CFR, Turkish buyers are cautious
regarding new purchases due to the ongoing price drops and so they prefer to
wait for further price softening instead.   

Global Pig Iron output up 2.1 percent in April  

According to
the preliminary data released by the World Steel Association (world steel),
global Pig Iron production in April this year amounted to 94.3 million metric
tons, decreasing by two percent as compared to the previous month and up 2.1 percent
year on year. In the first four months of the year, world Pig Iron outpur
amounted to 371.7 million metric ton, rising by 2.5% compared to the
corresponding period of 2011.

In April
this year, the top pig iron producer in the world according to worldsteel was
China again with 56.8 million mt, up three percent compared to April 2011 and
constituting 60 percent of global pig iron production.