Pig Iron Market

Today, the domestic pig iron market operates with a generally stable and slightly firm outlook.

Macroeconomic Aspects

From July 11th to 15th this year, during the Naadam Festival in Mongolia, the three major public port crossings on the China - Mongolia border, namely Erenhot - Zamyn - Uud, Ganchmadan - Gashuun Sukhait, and Ceke - Xiboku Lun, will be closed for 5 days. There is an expected contraction in the supply of Mongolian coal. The central bank held a key meeting, analyzed the domestic and international economic and financial situations, and will subsequently step up efforts to support scientific and technological innovation, boost consumption, explore normalized institutional arrangements to maintain the stability of the capital market, and place strengthening the domestic big cycle in a more prominent position. Currently, domestic incremental policies are anticipated, and market sentiment has been somewhat buoyed.

Futures Aspects

As of the close, the main varieties in the black series saw mixed movements of rises and falls. Iron ore rose by 1.5, closing at 715.5; coking coal dropped by 6.5, closing at 1404; hard coking coal fell by 9, closing at 825; rebar gained 7, closing at 2997; hot - rolled coil climbed by 4, closing at 3123.

Cost Aspects

The price of coking coal operates steadily. Recently, market sentiment has warmed. Coking enterprises have smooth shipments. Steel mills’ procurement has resumed, and traders are also stocking up, improving the supply - demand pattern. The raw material hard coking coal has stopped declining and is edging up, strengthening cost support. It is expected that mainstream coking enterprises will start a new round of price increases from this Thursday - Friday to next week. Iron ore has a slightly firm oscillation. In the short term, the cost - side support for pig iron has increased.

Supply and Demand Aspects

Today, the wait - and - see sentiment in the pig iron market is thick, and prices are slightly edging up. Driven by the phased restocking of some regional foundries, low - price resources in the market have decreased significantly. Iron mills’ willingness to raise prices has strengthened, but downstream procurement remains cautious, with transactions mostly based on demand. In the short term, the price of pig iron may operate steadily with a slight firmness.

Comprehensive View

It is expected that the domestic pig iron market will operate with a generally stable and individual upward trend tomorrow.