Strong Chinese demand supports global price growth in pig iron

China continued to show strong demand for pig iron in the week ended Friday June 5, supporting a global uptrend in prices for the raw material.

Four cargoes of pig iron with a total volume of at least 180,000 tonnes were bought for the Chinese market from Brazil and the Commonwealth of Independent States during the week.
One booking of Russia-origin material was heard at $334 per tonne cfr. Another Russia-origin cargo was booked at $330 per tonne by a trader for expected resale to a Chinese buyer at $335 per tonne cfr. Both cargoes were for August shipment.

Previous purchases of CIS-origin material were done at $322-325 per tonne cfr from Ukraine in late...

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