January 2012 | Steel Raw Materials
China prices expected to rise: Iron Metallics Highlights
Improved market sentiment after the holiday period and increased access to credit, should raise demand for pig iron in China.
Chinese prices are expected to rise in the coming days after trading in the Rmb3,250-3,300/tonne ($515-523/tonne) region since the beginning of 2012. MBR expects prices to follow iron ore prices upwards as mills restock and build their inventory levels. Pig iron production will increase to meet the market’s demand. An improvement in market sentiment after the holiday period and better access to credit, thus boosting end-user demand, should increase the demand...
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