Iron market report September 2012

Pig iron market kept stable with a price fluctuation within RMB50/t as steel mills ceased or reduced purchase due to no demand despite big change in downstream market.Asian Metal Copyright Iron prices were at RMB2,600-2,620t in Shandong, RMB2,580-2,600t in Shanxi, RMB2,780-2,800t in Xuzhou, RMB2,380-2,400t in Wuhai, RMB2,300-2,320t in Sinkiang and RMB2,680-2,700t in Liaoning.Asian Metal Copyright Reasons for this were that iron plants experienced increased costs due to appreciation of iron ore, and that iron plants tended to raise offers with significant upticks in Shanxi, Shandong, Henan, Xuzhou and Hunan while they were reluctant to sell products at low bids.Asian Metal Copyright Iron prices were at RMB2,600-2,620t in Shandong, RMB2,580-2,600t in Shanxi, RMB2,780-2,800t in Xuzhou, RMB2,380-2,400t in Wuhai, RMB2,300-2,320t in Sinkiang and RMB2,680-2,700t in Liaoning.Asian Metal Copyright However, deals failed to have noticeable improvement and most participants were still confused towards the market and preferred to take watch-and-see attitude.Asian Metal Copyright Few iron plants were still in production in Tangshan and almost all steel mills had suspended purchase.Asian Metal Copyright Pig iron prices are expected to fall back again after rocketing high and it is wise to be cautious in next days.Asian Metal Copyright Offers from steel mills were at RMB2,520t by cash payment in Baotou Steel, RMB2,900t by DA payment in Guiyang Special Steel, RMB2,580t by DA payment in Xinfu Steel, RMB2,560t by DA payment in Fangda, RMB2,730t by DA payment in Xiantan Steel, RMB2,350t by DA payment in Liugang Steel and RMB2,680t by DA payment in Guangzhou Steel, all on VAT included delivered basis.Asian Metal Copyright Few iron plants were still in production in Tangshan and almost all steel mills had suspended purchase. Iron prices were at RMB2,600-2,620/t in Shandong, RMB2,580-2,600/t in Shanxi, RMB2,780-2,800/t in Xuzhou, RMB2,380-2,400/t in Wuhai, RMB2,300-2,320/t in Sinkiang and RMB2,680-2,700/t in Liaoning. Offers from steel mills were at RMB2,520/t by cash payment in Baotou Steel, RMB2,900/t by D/A payment in Guiyang Special Steel, RMB2,580/t by D/A payment in Xinfu Steel, RMB2,560/t by D/A payment in Fangda, RMB2,730/t by D/A payment in Xiantan Steel, RMB2,350/t by D/A payment in Liugang Steel and RMB2,680/t by D/A payment in Guangzhou Steel, all on VAT included delivered basis.Asian Metal Copyright Offers from steel mills were at RMB2,520t by cash payment in Baotou Steel, RMB2,900t by DA payment in Guiyang Special Steel, RMB2,580t by DA payment in Xinfu Steel, RMB2,560t by DA payment in Fangda, RMB2,730t by DA payment in Xiantan Steel, RMB2,350t by DA payment in Liugang Steel and RMB2,680t by DA payment in Guangzhou Steel, all on VAT included delivered basis.Asian Metal Copyright Sangang Steel has not set prices.Asian Metal Copyright Few iron plants were still in production in Tangshan and almost all steel mills had suspended purchase.Asian Metal Copyright Shiheng Special Steel, Yongfeng Steel and Jiangsu Yonggang Steel continued to suspend purchase.Asian Metal CopyrightPig iron market kept stable with a price fluctuation within RMB50t as steel mills ceased or reduced purchase due to no demand despite big change in downstream market.Asian Metal Copyright