Iron Market Report June 2013

Pig iron market continues to see weak downturn in July. And steel mills struggle to incur losses as they have problem moving the material due to weak end user demand, so steel mills push down purchase price of pig iron by RMB50-150/t.Asian Metal Copyright The market sees few activities and some player are out of the market as iron works decrease price to move the material or suspend production or switch to production of cast iron due to contraction in demand.Asian Metal Copyright Otherwise, some steel mills prefer to purchase steel scrap rather than pig iron as price of the former is lower, so some steel mills increase purchase of steel scrap with reducing or suspending purchase of pig iron.Asian Metal CopyrightPig iron market continues to see weak downturn in July.Asian Metal Copyright The market sees few activities and some player are out of the market as iron works decrease price to move the material or suspend production or switch to production of cast iron due to contraction in demand. And it is expected that price of pig iron will slide down by RMB80-100/t in July.Asian Metal Copyright And steel mills struggle to incur losses as they have problem moving the material due to weak end user demand, so steel mills push down purchase price of pig iron by RMB50-150t.Asian Metal Copyright