China's pig iron import prices drop on weak demand, poor domestic market

China’s import prices for basic pig iron have continued to drop over the two weeks ending Thursday May 25, with no buying interest in seaborne cargoes due to soft domestic pig iron prices, sources have told Fastmarkets.

Market participants said that, in the two weeks to May 25, Chinese domestic pig iron prices went down because of weak downstream steel demand.

“Steel mills in China have proposed...