Pig Iron Prices for Steel grade in China remains firm on 19 Dec, 2013. The Steel Pig Iron is traded between RMB 2600-2650/MT. Pig Iron prices in China remain unchanged because of decrease in operation activities and even transaction.

Some plants in China have stopped their production unit amid less demand and limited cash flow. Production do not seems to go up this month and there’s little trading taking place on spot basis. Iron ore prices in China are decreased by USD 4/MT W-o-W basis because of weak Steel demand and cold weather conditions which are not appropriate for construction activity.

Market sentiments are mixed in terms of demand. Whereas, traders have bullish sentiments for near future and they expect demand will move up in coming month and the prices will move up.

Shanghai Steel Rebar Future gains by 0.4% to 3672 Yuan after trading at its three weeks low. Billet EXWORK price have move up by 20 RMB to 3030/MT. There is positive outlook in the market regarding development of Chinese economy in coming Fourth Quarter and increasing exports to US.

USD 1= RMB 6.1183