- Iron ore prices remain flat, coking coal increases 1%
- Production costs rise as prices of auxiliary inputs climb
Japan Metal Daily: Quarterly prices for key steelmaking raw materials supplied to Japanese steelmakers remained at elevated levels amid the Middle East conflict, with iron ore prices largely unchanged q-o-q and coking coal prices rising marginally by around 1%.
The benchmark iron ore contract prices for July-September loading were settled at approximately $96/t FOB for 62% Fe fines, while premium hard coking coal prices for April-June loading were fixed at around $232/t FOB.
The settlements indicate that raw material costs for blast furnace-based steelmakers remain elevated, driven by higher freight costs linked to firm crude oil prices. In addition, prices of certain auxiliary raw materials used in blast furnace operations have also increased, adding to overall input costs.
Benchmark iron ore and coking coal prices have moved within a relatively narrow range since March. As a result, the latest contract price was broadly in line with the previous quarter.
Note: This article has been written in accordance with a content exchange agreement between Japan Metal Daily and BigMint.
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