Pig Iron is being quoted at high price in few of the cities in China due to rise of raw material prices like imported iron ore and coke and also as billet is being offered at high price.
Some of the steel mills are unable to meet the required demand due to production cut previously.
In Shanxi, prices might move up on account of less supply, though demand remains poor. Offers increase in Tangshan by RMB 500/t to RMB 2,450-2,500/t, which was quoted at RMB 2,500-2,550/t.
(Ex works price including 17% VAT on cah payment basis)
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