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

Imported iron ore prices in China fluctuated within a narrow range during November 4-8, as market players adopted a cautious stance with the country's highly anticipated legislative meeting underway. Meanwhile, coke prices in both spot and futures markets trended downward as steelmakers further cut their coke procurement prices.

Iron ore: By November 8, Mysteel SEADEX 62% Australian Fines rose by $0.8/dmt on week to $102.95/dmt CFR Qingdao, and Mysteel PORTDEX 62% Australian Fines in Qingdao also climbed by a slight Yuan 6/wmt ($0.8/wmt) from the prior week to reach Yuan 769/wmt FOB and including the 13% VAT. On the same day, the most-traded