Prices for steelmaking raw materials continued at high levels.
Metal Bulletin’s 62% Fe Iron Ore Index
surged to almost $78 per tonne cfr China on Friday August 18 amid a sharp increase in the futures market ahead of the weekend. This is the highest level since April 6, when iron ore prices reached $80.92 per tonne cfr.
Prices for seaborne coking coal
sold to China have risen in the spot market following a series of transactions.
Metal Bulletin’s cfr China Premium Hard Coking Coal Index rose $5.67 per tonne to $201.06 per tonne on Friday, while the hard coking coal index gained $4.67 per tonne to $183.73 per tonne.
And the robust margins seen by Chinese steel mills
have been the steady factors supporting seaborne coking coal prices over the past two months, according to market participants.