It is reported from Shanxi that recently the prices of steel products, billet steel, iron ore and steel scrap etc pick up in some extent, driving the price of steelmaking pig iron to rise slightly in Shanxi.
At present, spot price of steelmaking pig iron is posed at about CNY 3,650 per tonne in Shanxi while quotations from some iron plants even reach to CNY 3,700 per tonne. However, no customers could accept this high price temporarily.
Since last week, the slight price inch-up of steel products and billet steel in domestic market gives the market players a little hope and making more people hold positive attitude towards future. This slightly stirs up the prices of ore, steel scrap and other raw materials and also arouses a wide scale price hike of steelmaking pig iron in Hebei, Shandong, Jiangsu and Shanxi provinces.
Molten iron is the major transaction object in the market. Although iron plants rush to lift the EXW price one after another, most steelworks do not heel the trend. This makes steel mills’ purchase price higher than the market price. However whether the pig iron market can keep upward or not in future will depend on the steel market trend and the release level of pig iron demand from downstream users.
At present, spot price of steelmaking pig iron is posed at about CNY 3,650 per tonne in Shanxi while quotations from some iron plants even reach to CNY 3,700 per tonne. However, no customers could accept this high price temporarily.
Since last week, the slight price inch-up of steel products and billet steel in domestic market gives the market players a little hope and making more people hold positive attitude towards future. This slightly stirs up the prices of ore, steel scrap and other raw materials and also arouses a wide scale price hike of steelmaking pig iron in Hebei, Shandong, Jiangsu and Shanxi provinces.
Molten iron is the major transaction object in the market. Although iron plants rush to lift the EXW price one after another, most steelworks do not heel the trend. This makes steel mills’ purchase price higher than the market price. However whether the pig iron market can keep upward or not in future will depend on the steel market trend and the release level of pig iron demand from downstream users.
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