SHANGHAI, Apr 27 - In March 2022, the procurement cost of coal, coke and iron ore and steel scrap all posted palpable growth. from January to March 2022, the cumulative procurement cost of coking coal increased by 74.03% year-on-year; metallurgical coke increased by 20.30% year-on-year; domestic iron ore concentrate decreased by 15.88% year-on-year and imported fines decreased by 23.93% year-on-year; pig iron increased by 11.06% year-on-year; and steel scrap increased by 13.66% year-on-year, according to China Iron and Steel Association.
01. Coking Coal
The weighted average purchase cost of coking coal converted to dry basis among benchmarking companies in March was 2,411.19 yuan/mt, up 64.22 yuan/mt or 2.74% MoM. The cumulative average purchase cost converted to dry basis from January to March was 2,374.68 yuan/mt, up 1,010.17 yuan/mt or 74.03% YoY.
02. PCI Coal
The weighted average purchase cost of PCI coal converted to dry basis in March was 1,687.61 yuan/mt, down 23.02 yuan/mt or 1.35% MoM. The cumulative average purchase cost of PCI coal converted to dry basis from January to March was 1,678.21 yuan/mt, up 649.74 yuan/mt or 63.18% YoY.
03. Metallurgical Coke
The weighted average purchase cost of metallurgical coke converted to dry basis in March was 3,178.77 yuan/mt, up 237.37 yuan/mt or 8.07% MoM. The cumulative average purchase cost converted to dry basis from January to March was 3,034.13 yuan/mt, up 511.98 yuan/mt or 20.30% YoY.
04. Domestic Iron Ore Concentrate
The weighted average purchase cost of domestic iron ore concentrate (dry basis) in March was 912.07 yuan/mt, up 37.31 yuan/mt or 4.27% MoM. The cumulative average purchase cost from January to March was 878.90 yuan/mt, down 165.97 yuan/mt or 15.88% YoY.
05. Imported fines
The weighted average purchase cost of imported fines in March was 893.78 yuan/mt, up 34.13 yuan/mt or 3.97% MoM. The cumulative average purchase cost from January to March was 842.44 yuan/mt, down 265.07 yuan/mt or 23.93% YoY.
06. Steel Scrap
The weighted average purchase cost of scrap in March was 3,393.53 yuan/mt, up 62.75 yuan/mt or 1.88%, and the cumulative average purchase cost from January to March was 3,328.93 yuan/mt, up 400.13 yuan/mt or 13.66% YoY.
