Pig Iron market at China is going through a dull phase, with no great inquiries.
Chinese market, after resuming from Lunar new year holiday, does not show any uptrend transactions. Rather, has resulted to stock pile at few regions owing to heavy snowfall.
Few of the steelmakers are still on vacation and have not resumed their production. Even, they are not planning to produce Pig iron for the short term as many of them suffered losses in 2013. Pig iron market is even suspected to be weak in short term, and traders are suggested to buy cautiously.
Currently, Pig Iron at Tangshan (China) stands at RMB 2,600/MT (USD 1= RMB 6.1070). Offers at Ukraine are hovering at around USD 377/MT FoB Black sea on witnessing a stable week. Market has fallen from USD 390/MT to USD 377/MT is a month’s time.
-Sourced
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