Steel mills in China raise Pig Iron offers for October

In China, Pig Iron prices rise in the range of RMB 150-200/MT for the month of October as compared to offers in September.

Increase in prices of raw materials and other semi finished products and less availability of Pig Iron due to production cut previously accounted for high Pig Iron prices.

Billet, iron ore and coke prices move up by RMB 190/MT, RMB 50-60/MT and RMB 50/MT respectively in last few days.

It is anticipated that Pig Iron sellers might increase prices further due to shortage of material.