Thursday, January 27,
No change was seen in pig iron prices in China & slow transactions were being noticed as Chinese New Year is approaching. Traders are keeping an eye on market and waiting to see where the market goes after holiday. Producers are not showing much interest and steelmakers are holding inventories . Rather steelmakers are opting for the substitute of pig iron \ i.e. scraps.
According to market players steel market in China is quiet uncertain as soaring pig iron prices and shortage in resources doesn’t clear the picture that whether post holiday market will see strong demand or not.
Leave a Reply