- Steel mills in China hold domestic Pig Iron offers from the start of this week as buyers are not making purchases in large quantities.
- Fluctuating prices of raw materials and semi finished products resulted for the above. Pig Iron availability is also less due to low output in the beginning of Oct.
- Sellers in Tangshan quote prices at RMB 2,600-2,650/MT (Ex works prices including 17% VAT on cash payment).
- Ukrainian exporters lifted offers by $5/MT to $355/MT FOB Black Sea as suppliers in Turkey raised scrap prices. Festive holidays in Turkey accounted for piled up stock and high prices.
- Chinese Pig Iron market is likely to be more or less unchanged in terms of demand and prices in the coming week on shortage of raw materials.
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