Lump premiums remain resilient, supported by healthy fundamentals

Between May 15 and 22, the Mysteel PORTDEX 62.5% Lump Premium held steady at Yuan 1.5053/dmtu, while the Mysteel SEADEX 62.5% Lump Premium rose by 0.15% to $0.153/dmtu. Both remained at relatively high levels.

Lump demand remained firm, supported by stronger VIU amid coke price cuts. As a result, the average lump burden ratio across 114 sampled steel mills rose by 0.02 percentage points on-week to 10.7%. Subsequently, total lump inventories at China's 47 ports decreased by 3.22% to 16.26 million tonnes as