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

Chinese prices for imported iron ore declined further across both spot and futures markets during June 29-July 3, weighed down by tepid steel demand during the summer low season. In contrast, domestic metallurgical coke prices increased in the two markets over the same period, with the landing of the ninth round of coke price hikes on July 1.

Chinese blast-furnace (BF) steel mills lifted their hot metal production slightly in the past week despite shrinking profit margins. The average capacity utilization rate among the 247 BF steel producers under Mysteel's tracking rose by 0.22 percentage point on week to reach 91.3% during June 26-July 2, refreshing a