Pig Iron Price Surges to $520 to Japan

Pig iron international market price is increasing. Overseas steel makers have very small inventory for third parties while the makers increase the crude steel output, according to Japanese trade firm. The export price is around FOB US$ 480 per tonne from China to Japan. One Japanese major integrated steel maker booked 90,000 tonnes of Chinese pig iron at CIF US$ 510-520, a trade firm source said.

Pig iron export countries such as Brazil and Russia began to increase the export price of pig iron. The price increased to more than FOB US$ 400 per tonne from Brazil in February and the importer in Taiwan booked the order at more than FOB US$ 430 from Russia in March. Current price is about US$ 100 higher than the level in the beginning of 2010 and the price would increase more, according to a trader source.