Producers of Pig Iron in Shandong city of China raise offers on high iron ore and billet prices. Looking at weak buying of Pig Iron, offers might sustain at current levels.
But, further price rise of raw materials and other semi finished products will result in an upward movement of Pig Iron offers.
In Shandong city of China, Pig Iron offers move up by RMB 250/t in a week and that of spot iron ore rise by RMB 80-140/t.
Ex works prices including 17% VAT on cash payment basis
US$ 1=RMB 6.3353
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