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.
Entering the Chinese New Year holiday, market trading is sluggish
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