China ’s steel industry is facing a 21-month low in profits, an possible losses, due to rising iron ore and coal costs. Seaborne iron ore prices have risen by 17% or $ 207.60 per dry metric tonne (dmt) to $ 12.75 /dmt, while premium low-volatility hard coking coal prices increased $ 7.60 /mt to hit $ 207.60 /mt. Meanwhile, steel prices in China have been frozen owing to the week-long Lunar New Year holiday, ending the holiday , but prices are expected to rise following the holiday to offset the higher costs and to support the peak spring construction demand.
China’s steel industry is facing a 21-month low in profits, an possible losses, due to rising iron ore and coal costs. Seaborne iron ore prices have risen by 17% or $12.75 per dry metric tonne (dmt) to $88.35/dmt, while premium low-volatility hard coking coal prices increased $7.60/mt to hit $207.60/mt. Meanwhile, steel prices in China have been frozen owing to the week-long Lunar New Year holiday, ending 10 February, but prices are expected to rise following the holiday to offset the higher costs and to support the peak spring construction demand.