October 08, 2008

Pig iron prices stand firm in Shandong

It is reported that Pig iron prices holds stably in Shandong.

1. Current EXW price of steelmaking pig iron at CNY 3400 per tonne to 3450 per tonne

2. Casting pig iron at CNY 3600 per tonne to CNY 3650 per tonne

3. Steelmaking pig iron purchaser price at CNY 3450 per tonne to CNY 3510 per tonne with common delivery

As per report current iron works are executing prior contracts and spot resources are quite tight. Driven by steel and fuel as well as raw material prices, most iron plants refuse price decrease in December, but with price rise room in limits. Moreover, due to tight rail transport, coal shipment cannot be confirmed.