China pig iron price go up again recently  

It is learned that China's steel mills still maintain high production, strong demand and short supply, which help China domestic pig iron price go up again. On December 3, L10 pig iron quoted 2,700-2,780 yuan per ton (USD395-407 per ton) including 17% VAT in Hebei markets, up 50-80 yuan per ton from the previous week. It is understood that in the past two weeks, domestic iron ore EXW price increased up to 100-120 yuan per ton.

A trader in Qingdao said that as steel production remains high level recently, meanwhile, the supply is relatively tight in pig iron market, the pig iron sales are good. He stated that the inventory has sold out to contract customers, at the same time, he predicted that the domestic pig iron price would keep uptrend as steel mills had no plan of adjusting down capacity recently. However, he pointed out that starting from December, steel mill will stop production to overhaul, thus pig iron demand will drop.

A trader in Shanghai disclosed that imported pig iron price also hiked, which will support domestic pig iron. He revealed that most traders have sold out the inventory, while other trader' stocks are also not large, so the market will remain the short-supply in a short term.