Pig iron domestic prices in China have come down for the month of May'13 after being constant in April.
There has been no improvement in trades and manufacturers are sitting on inventories in large quantities.
It is being quoted at RMB 2,7500/MT (ex works prices for Tangshan city, 17% VAT included, 1=RMB 6.2114). Previous offers were standing at RMB 2,780/MT.
Looking at the current market scenario, in the week ahead, there is further room for correction in prices of Pig iron.
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