Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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March 2020 | Steel Raw Materials

CIS pig iron prices come under pressure buy upside support remains: Iron Metallics Market Analysis

As we have previously covered in ferrous scrap sections of this tracker, prospects of the Turkish steel market are bleak in general amid trade restrictions in key markets for Turkey-origin rebar such as the US and the EU as well as weak domestic downstream demand in Turkey.

As trade data have arrived for the whole year of 2019, it has confirmed the trend observed through the year: Lower shipments to traditional major buyers such as the United States and the European Union with an uptick in Turkey- and China-bound exports. As out first chart alongside highlights, combined sales of merchant pig iron (MPI) from Russia and Ukraine into Turkey – the key exporters of the product from the CIS region – increased by 249,381 tonnes year on...


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