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WEEKLY SUMMARY: China's raw material prices all down

ABSTRACT

Over May 9-13, China's steelmaking raw materials prices including iron ore and coke declined, mainly as steel demand from end-users had softened further amid the bearish market sentiment and meagre profit margins had also forced steel mills to lower their raw material procurement prices, Mysteel Global noted.
Meanwhile, the blast furnace capacity utilization rate among China's 247 steel mills increased for a third week, nudging up by another 0.53 percentage point on week to 88.28% over the week of May 6-12.   Iron ore: By May 13, Mysteel SEADEX 62% Australian Fines slipped $10.35/dmt on week to $128.4/dmt CFR

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