Prices of Dalian steelmaking raw materials drop
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Update time : 2022-03-24 20:26:35
"Affected by the pandemic situation, downstream demand has been subdued, while the disrupted transportation has together led to increasing inventory at coking plants, analysts with GF Futures wrote in a note. Coke inventories at 230 coking plants stood at 11.5 million tonnes last week, up 1.1% from a week earlier, data from Mysteel consultancy showed. As profit margins at steel mills are
relatively low, GF Futures added there's possibility for coke producers to cut prices.
The most-active coke futures on the Dalian bourse for Mav deliver was down 1.6% at 3,567 yuan ($560.67) a tonne, as of 0330 GMT. Coking coal prices dropped 0.9% to 2,988 yuan per tonne. Benchmark iron ore futures on the Dalian exchange dipped 0.7% to 824 yuan a tonne
Portside iron ore stocks in China had been falling for four straight weeks to 155.8 million
tonnes, as of March 20, according to Mysteel.
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