Pig Iron suppliers in South East Asia wish to raise prices but buyers are willing to purchase low priced material only. East Asian imports are inactive at $430-440 CFR.
Pig Iron offers might reduce in South Korea on account of scrap shortage and scrap trades taking place at high prices. Present offers stand at $430/t and traders are ready to buy at $425-430/t CFR.
China and Taiwan have been supplied material at US$445-450/t CFR but demand in local market is weak due to limited trades of finished steel products. Hence, deals are few in number and the last one was made at $435/t CFR.
US$ 1=RMB 6.3387
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