In China, Pig Iron production was not lowered much during Q3 which has resulted into built up of inventory levels.
Producers are not to cut output in this quarter due to rising steel prices and expectations of an improved market scenario provided demand is not too weak.
Total Pig Iron output was 52.9 (million ton) mt in September, up by 1.6% YoY and down by 1.6% MoM.
In January to September 2012, it increased by 2.7% YoY to 502.8 million ton (mt). Daily production in September moved up by 1.7% MoM to 1.76 million tons (mt).
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