Pig iron import prices in China weaken further on low demand

Prices for imports of basic pig iron into China have dropped further over the past fortnight due to a lack of demand for the material, sources told Fastmarkets on Thursday November 25.

Sentiment across the country’s ferrous complex was bearish last week until market speculation that Chinese banks would increase loans for property development drove up finished steel futures on November 19, sources said.
Fastmarkets’ fortnightly assessment of the price for pig iron, import, cfr China, was $515-530 per tonne on November 25, down by $20-25 per tonne from $540-550 per tonne two weeks earlier.

“The huge...

Published

Lee Allen

Tianran Zhao

November 25, 2021

14:23 GMT

London, Shanghai