WEEKLY SUMMARY: China's steel raw mat prices diverge

Chinese prices for imported iron ore gained ground in both spot and futures markets over May 12-16, mainly as market sentiment was boosted by the temporary tariff pause between China and the United States. However, spot prices of metallurgical coke dropped during the same period as a result of new coke price cuts requested by steelmakers.

After rising for weeks, the average blast furnace capacity utilization rate among the 247 Chinese steel mills under Mysteel's regular survey dipped slightly during May 9-15 to 91.8%, but the rate was still high, indicating still active production among mills. Iron ore: By May 16, Mysteel PORTDEX 62% Australian Fines in