Chinese pig iron import price likely peaked, global price growth paused

The import price for pig iron in China was likely to have reached its peak during the week ended Friday June 26, causing a pause in price growth in the global market, Fastmarkets has heard.

“The Chinese market is quiet for holidays [on June 25-26], so it’s better to wait and see how trade will go after the Dragon Boat Festival,” one international trader said. “For the moment, it seems that prices have reached a peak, and it’s hard to sell something at higher prices because the scrap market is softening in Asia.”

A second source said that long lead times could be another reason why Chinese buyers have stopped purchasing pig...

Published

Marina Shulga

June 26, 2020

18:45 GMT

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