In the January-November period this year, the weighted-average purchase costs in China of coking coal, metallurgical coke, domestic production iron ore fines, and ferrous scrap decreased by 19.35 percent, 22.59 percent, 2.06 percent and 15.07 percent year on year, respectively, though the weighted-average purchase cost of import iron ore fines rose by 1.91 percent, as announced by the China Iron and Steel Association (CISA).
In November alone, the weighted-average purchase costs of coking coal, metallurgical coke, Chinese domestic production iron ore fines (dry basis) and import iron ore fines rose by 2.03 percent, 0.25 percent, 2.17 percent, and 1.91 percent month on month, respectively, though the weighted-average purchase cost of ferrous scrap decreased by 0.4 percent month on month.
$1 = RMB 7.0827
