WEEKLY SUMMARY: China's steelmaking raw mat prices continue tracking apart

Chinese spot prices for imported iron ore continued to decline during June 22-26, pressured by weak fundamentals and macroeconomic headwinds, despite a slight uptick in its futures. Over the same period, domestic metallurgical coke spot prices moved higher following the implementation of another round of price increases, while coke futures edged downward.

Production among Chinese blast-furnace (BF) steel mills continued to inch higher in the past week. The average capacity utilization rate among the 247 BF steel producers under Mysteel's tracking rose by another 0.27 percentage point on week to reach 91.08% during June 19-25, marking a one-year high. Iron ore: On