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

Source: Mysteel Mar 02, 2026 11:25

Chinese prices for imported iron ore rebounded slightly in both spot and futures markets during February 24-28, with trading recovering after the Chinese New Year (CNY) holiday. Macroeconomic expectations also strengthened, driven by positive domestic industry signals and a sharpening geopolitical crisis abroad following the United States and Israel's major attack on Iran on February 28. Meanwhile, Chinese prices of metallurgical coke remained stable over the same survey period as many steelmakers just showed a modest appetite for coke restocking after the holiday.

Integrated steelmakers in China have ramped up their hot metal production recently in response to higher profit margins. The capacity utilization rate of blast furnaces among the 247 steelmakers nationwide under Mysteel's regular tracking averaged 87.5% during February 13-26, up by 1 percentage point from the pre-holiday level. Iron ore: By