Rise in prices of the raw material such as scrap in the last week resulted in improved Pig iron exports from Black Sea to Turkey.
In the mid of February, Turkish mills were targeting prices at $390/MT CFR Turkey.
Due to expensive scrap, Ukrainian Pig iron is being quoted in the range of $385-390/MT FOB Black Sea to Turkey and buyers were willing to make purchases at these levels.
US Pig iron import price stands at $420/MT CIF and above.
Unlike Pig iron of Brazil, 70,000 tons of Russian material which is of low phosphorus and manganese was sold at $425/MT CIF to a US mill and to another mill at $425/MT CIF some Pig iron was sold out.
On account of pick up in sales, CIS Pig iron prices are standing in the range of $385-395/MT FOB Black Sea ports.
Pig iron is being purchased at high prices in Turkey as scrap import offers moved up.
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