Iron Market Report December 2013
2014-01-07 18:29:10 【Print】
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S.G. cast iron prices increased significantly this month by RMB70/t in Xinjiang, RMB100/t in Hebei, RMB80/t in Shanxi, RMB130-160/t in Shandong, RMB60/t in Jiangsu and RMB100/t in Henan. Price appreciation was attributed to two factors. On one hand, the several remaining iron plants in Wu’an, Hebei reduced or even stopped production due to power rationing in December, leading to supply tightness. On the other hand, most iron plants were closed down owing to environmental protection investigation, resulting in fewer cast iron supply, so downstream casting plants turned to purchasing S.G. cast iron. Iron plants basically covered their sales targets for half a month with advance payments got early this month, so they lifted the ex-works price of S.G. cast iron considerably. Though they saw unfavorable deals after price appreciation, they still kept prices of the material unchanged late this month. Participants expected that cast iron prices would remain stable with little increasing possibility due to limited demand from downstream markets and casting plants before the year-end in spite of significant increase in S.G. cast iron prices.
