The Difference between Pig Iron Costs and Steel Scrap Prices Shrank in February

SHANGHAI, Mar 10 (SMM) -The difference between pig iron costs and steel scrap prices stood at 232.7 yuan/mt as of February 28, 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. The difference between pig iron costs and steel scrap prices shrank 54 yuan/mt MoM. In February, steel scrap prices continued to rise, while pig iron costs rose at a slower pace due to stable coke prices and limited gains of iron ore prices caused by tightening market supervision.