Analysis of China's Pig Iron Price Trends in the Latest Week: Market Dynamics and Future Outlook

Price trends in China's pig iron market have always been a key indicator of the steel industry. In the latest week, domestic pig iron prices showed a widespread upward trend, with the driving factors and future trends behind this movement warranting attention.

Weekly Price Overview: Significant Uptrend Across the Board

As of July 25, 2025, pig iron prices across China saw substantial increases. Among the prices of L8-L10 pig iron in major producing areas, Linyi rose by 150 yuan/ton to 2,750 yuan/ton, while Linfen increased by 130 yuan/ton to 2,770 yuan/ton. In the foundry pig iron segment, Linyi's Z18 grade surged by 160 yuan/ton to 2,910 yuan/ton, and Linfen's Z18 grade rose by 130 yuan/ton to 3,040 yuan/ton. Ductile iron Q10 saw notable gains, with Linyi increasing by 160 yuan/ton to 3,020 yuan/ton and Linfen rising by 150 yuan/ton to 2,950 yuan/ton (all prices are cash-in-hand with tax included).

Regional Price Analysis: Divergence Amid Supply-Demand Dynamics

East China: Sharp Price Rises, Slowing Transactions

Linyi's steelmaking pig iron L8-10 was quoted at 2,750 yuan/ton (+150 yuan), foundry Z18 at 2,910 yuan/ton (+160 yuan), and ductile iron Q10 at 3,020 yuan/ton (+160 yuan); Changzhou's ductile iron Q10 stood at 2,990 yuan/ton (+80 yuan). Cost support came from the implementation of coke price increases and high-level fluctuations in iron ore prices. However, despite low inventories at enterprises, downstream buyers grew cautious about high-priced resources, leading to weaker trading activity. Supported by positive steel futures performance and expectations of further coke price hikes, prices are expected to remain strong in the short term.

North China: Rising Prices, Shrinking Volumes

Linfen's foundry Z18 was quoted at 3,040 yuan/ton (+130 yuan), Wu'an's ductile iron Q10 at 2,980 yuan/ton (+160 yuan), and Tangshan's steelmaking pig iron L8-10 at 2,760 yuan/ton (+110 yuan). Supply tightened due to maintenance at some blast furnaces, but downstream acceptance of high prices declined, with only rigid demand purchases. Merchants maintained strong price support sentiment driven by positive steel futures and coke market prospects, suggesting continued strength in short-term prices.

South China: Modest Increases, Supply-Demand Tug-of-War

Guangdong's steelmaking L8-L10 was quoted at 2,600 yuan/ton (+50 yuan), ductile iron Q10 at 2,850 yuan/ton (+100 yuan), and foundry Z18 at 2,910 yuan/ton (+80 yuan). Limited supply and rising costs pushed prices higher, but downstream acceptance of high prices slowed. With low inventory pressure at manufacturers, the market is expected to operate steadily with a slight upward bias in the short term.

Other Regions: Rising Prices Followed by Sluggish Transactions

• Central China: Henan's steelmaking L8-L10 was quoted at 2,720 yuan/ton (+150 yuan), and ductile iron Q10 at 2,950 yuan/ton (+170 yuan). After a phase of demand release, procurement turned cautious, but cost support maintains upward expectations.

• Northeast China: Liaoyang's steelmaking L8-L10 stood at 2,750 yuan/ton (+120 yuan), and Benxi's ductile iron Q10 at 2,800 yuan/ton (+140 yuan). Steel futures boosted confidence, but restocking demand weakened, with low inventories supporting price stability.

• Northwest China: Gansu's steelmaking L8-L10 was quoted at 2,500 yuan/ton (+80 yuan). Supply reduced but demand remained flat, leading to a cautiously strong price outlook.

  
  

Future Price Outlook: Cautious Optimism

The short-term upward trend in pig iron prices is expected to continue but with limited magnitude. The cost side receives strong support from expectations of further coke price hikes and high-level fluctuations in iron ore prices; the supply side faces manageable pressure due to low inventories and partial maintenance; on the demand side, while rigid demand and restocking needs exist, caution is warranted regarding the inhibitory effect of high prices on transactions. If downstream demand fails to sustain momentum, price increases may narrow. Market participants should focus on cost changes and the pace of demand release.

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DAWN | Pig Iron & Castings Procurement Advisor
18 years in the foundry trenches give me an edge: I know how pig iron’s chemistry impacts casting quality and can troubleshoot defects like cracks and porosity. With a 1M MT/year pig iron and 60k MT/year casting output from our in-house factory, plus 200+ verified suppliers on our platform, we offer fast price comparisons. Expect a 24-hour inquiry response—my goal? Not just closing deals, but being your go-to partner in the foundry world.

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