Rising Iron Ore Prices, Stable Coke and Steel Scrap Prices Slightly Drove Up the Production Costs of Steel Mills

SHANGHAI, Apr 4 (SMM) - On the raw material side, increasing iron ore prices, stable coke and steel scrap prices slightly drove up the production costs of steel mills. In terms of finished steel, the prices of rebar and HRC stabilised and rebounded last week. The spot prices of HRC rose slightly higher than those of rebar prices. Under the combined influence, the profits of steel mills this week will improve slightly compared with the previous week. In the follow-up stage, the ferrous metal prices may remain volatile. Considering that the coke prices may decline this week, SMM expects that the profits of steel mills will increase slightly this week.