Friday, January 28,
India
Pig iron prices remained firm at most of the major mandis’. Market players remained cautious due to poor off take of Ingot.
China
Pig iron prices in China remain unchanged. Stability in pig iron market is supported by steel and billet market. Transactions in market are less but producers expect a rise in prices in the subsequent days and so steelmakers increase purchase of inventories due to tight supply as iron ore prices and coke prices are on rise, stimulating pig iron market to be firm. Market is currently on a holiday mood speculating hike in prices followed by dull transactions.
Comments by
Manufactures, India: “Weaker demand for Ingot is impacting the demand for pig iron; however, manufactures not willing to decrease the prices as raw material such as Iron ore & coal are expensive.”
Traders, India: “Traders are opting to wait and watch; Supply is likely to remain low due to the shortage of imported coal.”
Leave a Reply