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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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May 2013 | Steel Raw Materials


Prices slip lower on bearish sentiment and a lack of buying interest: Coke and Coking Coal Highlights


China's flash PMI for May falls to 49.6 from 50.4 in April as new orders decline.

Transactions in the spot market have been subdued over the week. Market participants turned increasingly bearish after China’s Purchasing Manager Index (PMI) contracted for the first time in seven months. The flash PMI for May fell to 49.6, from 50.4 in April as new orders declined. Moreover, preliminary data from the China Iron and Steel Association (CISA) showed the country’s daily crude steel output was still high at 2.185m tonnes in mid-May, despite falling 0.36% from an all-time record in the preceding 10 days. The fear now is that the steel market is in surplus, which is deterring many mills from purchasing coal and coke. Furthermore, the situation is expected to become inflamed with the onset of the traditional summer lull.

To further compound...

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