Pig Iron is anticipated to be traded at low prices in December. Offers witnessed a downward movement towards the end of the previous month looking at falling Billet prices.
Pig Iron offers might slip if scrap is preferred as its substitute, frequent changes seen in Billet prices and as finished steel market shows no signs of improvement.
Other factors which might account for some stability in Pig Iron prices are low production and limited supply, high prices of iron ore and coke.
In Tangshan, Pig Iron is being quoted at RMB 2,600/MT (Ex works prices inclusive of 175 VAT on cash payment basis) as of now.
US$ 1=RMB 6.2908
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