In North China, Pig iron makers are offering the material at higher prices in domestic market due to rise in demand.
In Hebei province, prices (include 17% VAT) rise by 4% i.e. by Yuan 100/MT ($16/MT) to Yuan 2,800-2,850/MT in a month's time.
Sellers also made offers in the range of Yuan 2,950-3,000/MT when imported iron ore prices stood at $160/MT CFR China and due to 14% hike in domestic offers of flat rolled carbon steel in last one month.
China's total Pig iron output for 2012 rose by 3.7% y-o-y to 657.9 million mt (mmt).
Chinese steel mills look to raise offers after March as demand is anticipated to improve, but much of it will certainly depend on government decisions and economic factors.
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