WEEKLY SUMMARY: China's import iron ore prices fluctuate, spot coke stable

Chinese prices for imported iron ore first rose and then declined in the spot market during October 20-24, while futures prices of the commodity slipped slightly. The pressure on iron ore prices mainly came from its loosening supply. Meanwhile, spot metallurgical coke prices in China held steady last week, as coke firms' demand for higher coke prices remained ungranted, though main coke futures posted clear gains.

As for Chinese blast furnace (BF) steel producers, shrinking profit margins on steel sales continued to dampen their production willingness. During October 17-23, the average capacity utilization rate among the 247 BF steelmakers nationwide under Mysteel's regular tracking fell by a larger 0.39 percentage point on week to 89.94%. Iron