In the January-June period this year, in China the weighted average purchase cost increased by 76.6 percent for coking coal, by 29.24 percent for metallurgical coke, by 21.22 percent for Chinese domestic production fine ores, by 24.46 percent for import fine ores, by 3.44 percent for pig iron, and by 7.48 percent for scrap, all year on year, as announced by the China Iron and Steel Association (CISA).
As previously reported by SteelOrbis, steel producers who are members of the CISA have been seeking to reduce costs and improve efficiency, with only medium-size and large steelmakers with blast furnaces participating in these efforts. The crude steel output of the steelmakers in question accounts for 80 percent of CISA members’ overall crude steel output.
