Iron Market Report April 2016
2016-05-09 16:05:36 【Print】
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Iron market kept warming up in April with buyers active in rebuilding stocks while iron production did not increase much in the spot market. Supply of S.G. cast iron was very tight as a result. And supported by the firm production costs due to rising prices of both iron ore and coke, iron producers raised their sales prices of S.G. cast iron and cast iron very quickly in the week though demand of cast iron was not very active. As most iron producers had many orders at hand, they faced very low sales pressure all through the month though the demand is very likely to decrease in May when the improving supply may hinder iron prices from rebounding further. And prices of raw materials like iron ore and coke may also stop rising further in May or even start sliding as downstream steel market is not expected to keep firm in the long run, iron production costs would slide in May and prices of S.G. cast iron and cast iron may also start falling as a result.
