The price of raw materials has been lowered and the cost of iron factories has been lowered, but the spot price has fallen sharply, the profits of iron factories have continued to be compressed. The market sentiment is pessimistic due to the weakening of prices, and terminal demand is not good. It is expected that the price of pig iron market in South China may still run weakly in the short term.
The pig iron market price decreased this week.The prices of the main production: iron-making L8-L10 down 5 USD/ton to 450 USD /ton, cast iron Z18 down 5 USD /ton to 480 USD /ton, ductile iron Q10 down 10 USD /ton to 496 USD /ton, cash tax included.
In terms of production, the blast furnaces of individual pig iron enterprises resumed normal production, and the pressure on pig iron supply increased.
The black futures fluctuated weakly during the week, and the steel and scrap steel markets went down slightly, which was transmitted to the pig iron market. On the supply side, blast furnaces of pig iron companies were shut down for maintenance, but the inventory pressure of enterprises in production is still too high and the superimposed demand side is still affected by the mentality of buying up. The cost and demand of the pig iron market are both weak, and it is expected that the price of pig iron in the Northeast market will continue to run weakly next week.
In terms of raw materials, coke was lowered again this week, and iron ore was slightly raised, but the increase was weak and difficult to hedge the impact of lower coke on pig iron costs. Combined with lower costs and the overall sluggish trading in the market, it is expected that the Northwest pig iron market will continue to drop next week.
Comments
No comment yet.