China: Pig Iron buying by domestic steel mills of China has come down due to built up in inventory levels, falling steel prices, stable iron ore offers and a little rise in coke prices.
In Tangshan, Pig Iron is being quoted at RMB 2,6750 (Ex works prices inclusive of 17% VAT on cash payment basis). In the days ahead, domestic market might in China might witness a slight decrease in the current offers.
North Brazil: Pig Iron makers in Cajaras, the northern region of Brazil are able to sell out the material at high offers by $15/MT to Mexico.
China's Pig Iron production in October 2012 moved up by 5.1% i.e. 2.979 million tons (mt) on y-o-y basis to 53.982 mt. In comparison to September 2012, the output was an increase of 1.086 mt.
The total Pig Iron production stood at 557.56 mt in January to October 2012. The figure marked a rise of 15.94 mt as compared to the first ten months of September 2012.
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