SHANGHAI, May 15 (SMM) - The difference between pig iron costs and steel scrap prices narrowed 51 yuan/mt MoM to 228 yuan/mt as of April 30, which was lower than the average price difference of 322 yuan/mt in 2022, and was at a relatively lower level of the fluctuation range (-135, 789) of the difference between the two last year. In April, both steel scrap and iron ore prices fell sharply. In the first half of the month, pig iron costs fell faster than steel scrap prices. In the second half of the month, steel scrap prices plummeted, causing the difference between pig iron costs and steel scrap prices to expand slightly.
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