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WEEKLY SUMMARY: China's iron ore, coke prices drop

ABSTRACT

Chinese prices of key steelmaking raw materials including iron ore and coke headed south over June 20-24, as pessimism continued to dominate market sentiment, especially in the first half of the week. Market players expected raw materials demand to be dampened in the future as steelmakers plan to trim production further.
In fact, over June 17-23, blast furnace capacity utilization among China's 247 steel mills Mysteel canvasses weekly had reversed down after rising for eight weeks, dipping by 1.17 percentage points on week to 88.98% in response to their severely thinned or even negative steel margins.   Iron ore: On June 22, Mysteel

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