Pig Iron suppliers in China offer the semi finished material at RMB 200/MT more in comparison to prices in October.
Factors such as raw materials (iron ore and coke) price rise and existing gap between the demand from buyers in domestic market and supply being made has accounted for lifting up of the Pig Iron prices.
For November 12, prices stand at RMB 2,800/MT in Tangshan (Ex works prices inclusive of 17% VAT on cash payment).
US$ 1=RMB 6.3017
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