WEEKLY SUMMARY: China's iron ore prices rise, coke slides further

Chinese prices for imported iron ore increased in both spot and futures markets over the past week, mainly supported by steel mills' restocking demand. However, spot and futures prices of metallurgical coke both declined last week, with another price cut initiated by steelmakers taking effect on the first day of 2026.

The production of blast-furnace (BF) steelmakers has recovered recently, as some mills in North China resumed operations at their furnaces amid improved air quality. The average capacity utilization rate among the 247 BF steelmakers nationwide under Mysteel's regular tracking rose by 0.3 percentage point on week to 85.3% during