Pig iron export price continues rise in China
According to overseas reports, South
Koreas
pig iron import price from
China was recently $335-$340 per ton CFR.
The booming
pig iron market situation in East Asia has boosted
China's export quotation to $325/ton FOB, which is equivalent to $340/ton CFR for South
Korea. Such a price level is confirmed by South Korean steel giant POSCO, which imports
pig iron from
China at $340/ton for May 2005 delivery.
At the same time, however, POSCO also purchases
pig iron from
Russia at $334.50/ton CIF.
Hwan Yong Steel Corp recently purchased 5000 tons of
pig iron from
China for May delivery via the Glencore International Company at a price of $339/ton CFR.
Some market news hints that along with rising cost of sea
freight, some traders may attempt to drive up the quoted price of
pig iron in
Russia by $5/ton. The quoted price of
pig iron for July to September delivery has reportedly risen to $318/ton FOB.
Meanwhile, it is said that US-based
Nucor recently purchased
pig iron at a price of $309/t FOB. Moreover,
Brazil sells their
pig iron at a price of $320/t CIF New Orleans.