WEEKLY SUMMARY: China's iron ore prices firm, spot coke softens

Prices of imported iron ore in China strengthened overall on improved macro sentiment during November 2-6. However, domestic spot coke prices softened slightly over the same period amid weakening cost-side support.

The reduced production among Chinese blast-furnace (BF) steelmakers still weighed on their demand for feed materials. During October 29-November 4, the combined daily hot metal production by the 247 BF mills under Mysteel's tracking had dropped for the fourth straight week by another 0.5% on week to 2.31 million