Domestic Pig Iron Market Shows Strong and Cautious Trend Today

Macro Overview:

According to data from the General Administration of Customs on January 14, 2026, China exported 11.301 million tons of steel in December 2025, an increase of 1.321 million tons compared to the previous month, representing a month-on-month growth of 13.2%. From January to December 2025, cumulative steel exports reached 119.019 million tons, up 7.5% year-on-year.

In the international market, the U.S. December CPI rose 2.7% year-on-year, while the core CPI increased 2.6% year-on-year, basically unchanged from November. On a month-on-month basis, CPI rose 0.3%, and core CPI rose 0.2%, both remaining stable compared with the September data.

Futures Market:

As of the market close, major black metal futures showed fluctuating downward trends:

• Iron ore up 0.5, closing at 821

• Coke down 22.5, closing at 1,738.5

• Coking coal down 18.5, closing at 1,196.5

• Rebar up 1, closing at 3,620

• Hot-rolled coil down 3, closing at 3,306

Cost Analysis

Coke prices remain stable while iron ore stays at high levels, providing strong support for pig iron production costs.

Supply and Demand

Recently, market sentiment has been noticeably boosted by the relatively strong performance in black metal futures, leading traders to maintain a generally bullish outlook. Sellers are reluctant to offer at low prices, resulting in substantial price increases in many regions. On the supply side, inventories at most pig iron plants remain tight, and overall supply pressure is limited, supporting the market floor. Downstream purchasing has slowed after previous stockpiling, but overall trading activity remains stable.

Conclusion

In summary, the pig iron market is expected to remain stable with a slightly strong trend tomorrow.

For more insights on China’s pig iron market, please contact us at Tiegu.