Steel mills in China planned to take a routine annual shut down on maintenance reasons for a couple of months during every year end.
On account of this, output of Pig Iron slipped by 1.5% m-o-m i.e. 26,000 mt per day or 1.714 mmt per day in November 2012.
For the current month, domestic prices and production of Pig Iron is unexpected to move up in China.
A slightly improvement in domestic prices is seen in comparison to November mid as last deals have been closed at Yuan 50/MT more to Yuan 2,650/MT i.e. ($421/MT).
In November, Pig Iron output was down by 4.8% m-o-m and was a rise of 10.7% as compared to November 2013. China produced a total of 51.4 mmt of Pig Iron last month, maintaining its per month average production of 50 mmt on increase of finished steel prices.
Pig Iron production jumped up by 3.5% y-o-y to 608.7 mmt from January to November 2012.
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