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Kallanish Steel Weekly: Pig iron prices remain firm, support expected from Turkish scrap market

Kallanish Steel Weekly: Pig iron prices remain firm, support expected from Turkish scrap market (Feb. 21, 2023)

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The merchant pig iron market retained its pace in the past week, but activity moved from the western hemisphere to the east. The caveat is the Turkey/Syria effect on the scrap market, which has softened somewhat in
the past week, both in demand and prices, also casting a shadow on US and European scrap markets. Pivotally, US mills' seven-week buying spree secured them robust arrival books. With Brazilian offers remaining at a firm $480-500/tonne fob for May loading, this forced US buyers to step back from the market and observe the developments resulting in silenced trade.

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