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It is reported that steelmaking pig iron in Hebei Province rebounds strongly after a long time dullness as bolstered by sharp increase of iron ore and steel price.

As per report, local factory price soars by CNY 200 per tonne from CNY 2850 per tonne to CNY 3050 per tonne in just two days.

China iron ore and steel price sparks strong rise recently, especially when a price increase is widely expected in iron ore talk, hoisting market anticipation greatly. Hebei market acts as a bellwether in this round of price rise. No matter iron ore or steel, it shows the most outstanding performance.

Billet also had an overall price increase of CNY 100 per tonne last Friday which also lights a fire to steelmaking pig iron. Recently the mainstream factory price of steel pig iron touched CNY 3050 per tonne, CNY 200 per tonne higher than that at the end of last month, and recording the most powerful upturn in CNY 2010 per tonne.

Sourced from MySteel.net

• [Editor:editor]