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November 2013 | Steel Raw Materials


Despite a weaker steel market and a disappointing Third Plenum, prices remain firm: Coke and Coking Coal Highlights


Sentiment among market participants in China waned after the economic reforms announced were vague on detail.

It was hoped that the Third Chinese Plenum meeting would deliver a robust plan to sustain economic growth and thereby fill buyers with confidence. However, as it turned out, sentiment among market participants shifted lower, after it emerged that the economic reforms being announced were rather vague on detail. In addition, the country’s spot steel market weakened as output and inventory levels moved higher.

According to data estimates from the China Iron and Steel Association (CISA), the country produced 2.144m tonnes of crude steel per day in the first ten days of November, up by 2.2% from the last ten days of October. Moreover, as demand failed to keep pace with supply, CISA member mills’ combined steel inventory climbed to 12.926m tonnes by the end of the...

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