WEEKLY SUMMARY: China's steel raw mat prices lose ground

Chinese prices of key steelmaking raw materials including iron ore and coke generally declined over December 23-27, as domestic steel mills further reined in their production amid the traditional low season for steel consumption while pushing for lower procurement prices for metallurgical coke, Mysteel Global noted.

Iron ore: Mysteel SEADEX 62% Australian Fines dropped by $1.85/dmt on week to $99/dmt CFR Qingdao by December 27, the first time in three months that the index had fallen below the critical $100/dmt mark. As of the same day, Mysteel PORTDEX 62% Australian Fines in Qingdao settled at Yuan