Pig iron market in Shandong - China
The pig iron market is reported to be weak. The prices vary between CNY 2,300 per tonne to CNY 2,320 per tonne for steelmaking pig iron or even lower. Laiwu Steel offers price at CNY 2,330 per tonne. Some steelmakers in eastern regions have been impacted by imported resources and some southern ones have restricted or suspended purchasing.
Pig iron market for castings is also weak. As steelmaking pig iron price remains at a low level, the price gap with casting pig iron has increased which has prompted many iron producers to shift to casting pig iron and ductile pig iron since they can still expect to make some profits. Casting pig iron price begins to slide after a short consolidation. casting pig iron price varies from CNY 2,800 per tonne to CNY 2,850 per tonne.
On the other hand, prices of iron ore and coke have stabilized and showed an uptrend while production costs for pig iron remain high. As a result, in a short term pig iron market will continue current trend. Future market will depend on downstream demand.
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