Prices for coking coal and iron ore have been both on the rise during the working week from Monday July 10 to Friday July 14.
Despite a slight daily decline on Friday, Metal Bulletin’s 62% Fe Iron Ore Index ended the week at $65.74 per tonne cfr Qingdao, up from $62.80 per tonne cfr a week earlier.
Metal Bulletin's cfr China premium hard coking coal index jumped $4.47 per tonne to $166.47 per tonne on Friday, while the fob Australia index rose $0.96 per tonne to $161.34 per tonne. Bullish sellers in the seaborne market are refusing to budge from their offers with transacted prices edging up.
In addition, China’s metallurgical coke export prices have continued to rise in the past fortnight despite thin trading, as a second round of increases are implemented in the domestic market.
Meanwhile, scrap prices in major global markets trended downwards this week, as mills in most import markets successfully fended off...