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

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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