WEEKLY SUMMARY: China's iron ore prices soften, spot coke rises further

Chinese imported iron ore prices weakened in both spot and derivative markets over July 28-August 1, as the optimism that previously buoyed domestic ferrous markets receded, while the country's spot prices for metallurgical coke continued to strengthen on cost support, Mysteel's survey showed.

Demand for steelmaking raw materials remained resilient in China as the production among blast furnace (BF) steelmakers stayed at a high level, with the combined hot metal output among the 247 BF mills under Mysteel's tracking averaging 2.41 million tonnes/day during July 25-31. Iron ore: As of August 1, Mysteel' PORTDEX