Between January and October this year, China's weighted average procurement costs of coking coal, metallurgical coke, domestic iron ore, imported iron ore fines and ferrous scrap decreased by 31.34 percent, 26.87 percent, 9.27 percent, 8.92 percent and 10.9 percent year on year, respectively, as announced the China Iron and Steel Association (CISA).
In October alone, the weighted average procurement costs of coking coal, metallurgical coke, domestically produced iron ore fines (in dry terms) and imported iron ore fines increased by 4.27 percent, 0.92 percent, 1.94 percent and 0.42 percent, respectively, while while the weighted average cost of purchasing scrap ferrous metals decreased by 0.34 percent on a monthly basis.
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