Based on the new report issued by the China Iron and Steel Association (CISA), in the first quarter of 2011 the coking coal purchase prices of 57 large and medium-size steel producers in China indicated an increase of 15.17 percent year on year. Meanwhile, in the same period the year-on-year increases in prices of metallurgic coke, locally produced iron ore concentrate and pulverized coal were respectively 8.77 percent, 42.71 percent and 21.35 percent. Accordingly, average manufacturing costs climbed up by 27.52 percent year on year for Chinese steelmaking enterprises in the first three months of the current year.
In the quarter in question, China imported 177.17 million mt of iron ore, with an average price of $156.62/mt, rising by $60.31/mt or 62.62 percent compared to the same period of last year.