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Pig iron prices continue to move upward


Global pig iron prices are soaring to historic levels. As per report current pig iron transaction prices in Southeast Asia are prevailing at USD 680 to USD 690 per tonne supported by strong demand.

A buyer in Taiwan reportedly paid USD 700 per tonne for Russian pig iron on CNF basis. The quoted price in Japan is now also at as high as USD 710 per tonne to USD 720 per tonne CNF.

Japanese Nippon Steel has been purchasing from India and Brazil. However, import price of pig iron was pegged at USD 710 per tonne to USD 720 per tonne CNF in Japan. The company is reluctant to pay a higher price than USD 700 per tonne. There will be few deals being concluded in the coming weeks.

(Sourced from YIEH.com)

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