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CHINA PIG IRON: Prices edge up on tight supply from Brazil
Issued at 2021-10-29
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Prices for imports of basic pig iron into China have inched upward over the past fortnight, after transactions for Brazilian cargoes completed on October 15, sources told Fastmarkets on Thursday October 28.
The price would be equivalent to $565-575 per tonne cfr China, considering the $65 per tonne cost of freight from Brazil.Following those deals, however, buying activity started to slow down because sellers were offering cargoes at higher prices due to tight supply, market participants said.
Around 120,000 tonnes of basic pig iron were heard sold from Brazil to China for January shipment on Friday October 15, at $500-510 per tonne fob Brazil, sources told Fastmarkets.
Source: metalbulletin.com
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