WEEKLY SUMMARY: China steel raw material prices diverge

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China’s raw materials prices continued to move in opposite directions over January 18-22 due to the variation in their fundamentals, as iron ore prices softened further while the country’s domestic coke price gained further on limited supply.

Over January 15-21, the blast furnace (BF) capacity utilization rate among China’s 247 steel mills dipped for the third week by another 0.12 percentage point on week to 91.12%, though it still persisted at a rather high level. Iron ore:as of January 22, Mysteel’s SEADEX 62% Fe Australian Fines dipped further by $2.95/dmt on week

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