Pig iron market appears weak in Yunnan

Tag : iron making
July 19, 2008
Pig iron market appears weak in Yunnan province
It is reported that pig iron market in Yunnan province appearsquiet in thin trading upon weak demand in recent days. Producersare now in downswing correction. Steel making pig iron is offeredat CNY 4300 per tonne to CNY 4320 per tonne in Kunming and CNY 4250per tonne to CNY 4270 per tonne in Qujin district. Casting pig ironprevails at CNY 4450 per tonne to CNY 4550 per tonne remainingunchanged, but the deals are almost none because of theinsufficient output.

Lately weakening steel market results in falling price and slackbusiness and directly affects steel producers who feel reluctant topurchase pig iron, resulting in the yielded resource unable to betransferred smoothly to the market and still staying at iron-makingplants, and then falling in prices.

Some small pig-making plants have had to cut or suspend productionin front of high material prices. They don't expect the situationwill change in short term as the light period for steel products isstill going on.

(Sourced from MySteel.net)