Why is the price of wrought iron more expensive than pig iron?

The difference and price between pig iron and wrought iron
1、 Nature difference:
Pig iron: an iron alloy with a carbon content of 2-6.69%. Also known as “cast iron”. In addition to carbon, it also contains silicon, a small amount of sulfur, phosphorus, etc. It can be cast but not forged.
Wrought iron: Pure iron refined from pig iron. If the carbon content is below 0.02%, it is also known as “forged iron” or “pure iron”. Pure iron requires a low content of impurity elements such as carbon, phosphorus, and sulfur, making it difficult to smelt and the manufacturing cost much higher than pig iron and steel. The main difference lies in the carbon content. Iron with a carbon content greater than 2% is called pig iron; Iron with a carbon content less than 0.04% is called wrought iron; Iron with a carbon content between 0.05% and 2% is called steel.
2、 Performance differences:
Performance of wrought iron: It has a soft texture, good ductility, is easy to deform, has low strength and hardness, is easy to forge and weld, and is not widely used. Pure iron, as an electrical material, has high magnetic permeability and is used in various iron cores. It is also used as a raw material for high-grade alloy steel, while pure iron is rarely used as a structural material due to its soft texture and low strength.
Performance of pig iron: It contains a lot of carbon, has good wear resistance and castability, but is hard and brittle, and cannot be forged. According to the different types of carbon, it can be further divided into several types: steelmaking pig iron, casting pig iron, etc.
3、 Why is the price of wrought iron more expensive?
Wrought iron refers to iron that has already been refined, rather than pig iron, and is usually used to manufacture various products. The main reason for the high price of wrought iron in the market is that the process of refining iron requires a large amount of resources and energy, and the production process of wrought iron requires precise technology and equipment. In addition, wrought iron has a wide range of applications in the manufacturing field, resulting in high demand and relatively low supply, which also leads to its relatively high price.