Exports of Pig Iron from Japan has increased in the last couple of months on account of factors such as limited trades in the domestic market, supply of the material in smaller quantities of around 5,000 to 10,000 tons to importers in the local market and good chemical composition of the material.
Producers have raised Pig Iron prices for exports purposes looking at high import offers of scrap.
At present, Pig Iron is being offered at $410/MT CFR. It is heard that 5,000 tons of material was sold out in the past week at $404/MT CFR.
Demand from countries such as Brazil and Russia is seen in large quantities due to which exports have moved up.
With Korea and Taiwan, Japan finalized exports deals at prices standing in the range of $385-390/MT CFR.
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