Posted on 16 Jun 2021
Over June 7-11, China’s imported iron ore prices had rallied further, and the spot domestic coke price had remained stable over the period, both were attributed to the remaining relatively high output among the domestic steelmakers.
Over June 4-10, blast furnace capacity utilization rate among China’s 247 steel mills nationwide under Mysteel’s survey remained largely stable at 91.69%, though it reversed down from a nine-week small inclines by 0.2 percentage point on week.
Iron ore: As of June 11, Mysteel SEADEX 62% Australian Fines climbed further to $219.3/dmt CFR Qingdao, or up $10.65/dmt on week, and Mysteel PORTDEX 62% Australian Fines in Qingdao strengthened too by Yuan 80/wmt ($12.5/wmt) on week to Yuan 1,527/wmt FOT and including 13% VAT.
In the futures market, the most-traded September iron ore contract on the Dalian Commodity Exchange (DCE) climbed up, closing the daytime trading session of June 11 at Yuan 1,247/dmt, or Yuan 77.5/dmt higher than the settlement price on June 4.
Coke: As of June 11, China's national composite coke price under Mysteel's assessment remained unchanged at Yuan 2,744.3/t including the VAT, as most domestic steel mills had not had not cut their coke procurement prices any more.
By June 11, though, DCE’s most-traded September coke contract gained further, up another Yuan 128/t from the settlement price of June 4 to close the daytime trading session of June 11 at Yuan 2,721.5/t.
Source:Mysteel Global
