Posted on 01 Aug 2008
Suffering from the dropping steel scrap prices, international pig iron prices are following along in the downward slide.
Taiwan
mills are currently receiving quotations of about US$900/ton, C&F
Taiwan port. This is about US$100/ton lower than the previous peak
price level of US$1,000/ton.
However, Taiwan mills have
expressed their view that the price is still too high to buy and they
are adopting a wait and see attitude, in expectation that the price
will keep falling.
On July 18, Vizag Steel, India's largest
long-products and pig-iron exporter, held a tender of 25,000 tons for
pig iron. The highest bidder was UKa€?s Stemcar at a price of
US$808.08/ton, but still has not yet been confirmed. Market information
said the price is lower than the MMTCa€?s highest bid, so the bid may be
canceled.
